Sciencast Management LP Invests $307,000 in Owens Corning (NYSE:OC)

Sciencast Management LP acquired a new stake in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,800 shares of the construction company’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC grew its holdings in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning during the 4th quarter worth about $34,000. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research note on Monday, March 17th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group dropped their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup lowered their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were 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 directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $144.49 on Monday. The business has a 50-day simple moving average of $167.56 and a two-hundred day simple moving average of $176.76. The company has a market cap of $12.36 billion, a PE ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. 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 released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the business earned $3.21 EPS. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. Owens Corning’s dividend payout ratio is currently 37.70%.

Owens Corning Profile

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.