Harvest Fund Management Co. Ltd Takes $215,000 Position in Owens Corning (NYSE:OC)

Harvest Fund Management Co. Ltd bought a new position in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,264 shares of the construction company’s stock, valued at approximately $215,000.

A number of other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its position in shares of Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust raised its position in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC raised its position in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after purchasing an additional 60 shares during the period. IFP Advisors Inc raised its position in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after purchasing an additional 62 shares during the period. Finally, Parallel Advisors LLC raised its position in Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after purchasing an additional 62 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.8 %

OC opened at $144.49 on Friday. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. The stock’s 50 day moving average price is $167.56 and its 200-day moving average price is $176.64. 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 (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.91%. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OC shares. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company decreased 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. Royal Bank of Canada restated an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. Barclays decreased their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction 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. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by insiders.

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.