Generali Asset Management SPA SGR Buys Shares of 14,812 Owens Corning (NYSE:OC)

Generali Asset Management SPA SGR bought a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,812 shares of the construction company’s stock, valued at approximately $2,523,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OC. JPMorgan Chase & Co. grew its position in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $51,220,000. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning during the third quarter valued at about $43,559,000. Finally, Nordea Investment Management AB boosted its stake in shares of Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of a number of recent research reports. Barclays cut their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research note on Monday. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Trading Up 1.9 %

Shares of OC stock opened at $147.60 on Thursday. The company has a market cap of $12.63 billion, a P/E ratio of 12.56, a PEG ratio of 1.88 and a beta of 1.52. The stock has a 50 day simple moving average of $168.49 and a two-hundred day simple moving average of $176.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. Research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. Owens Corning’s payout ratio is currently 37.70%.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.