Ilmarinen Mutual Pension Insurance Co Invests $2.30 Million in Owens Corning (NYSE:OC)

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Owens Corning (NYSE:OC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 13,500 shares of the construction company’s stock, valued at approximately $2,299,000.

Several other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its stake in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB boosted its stake in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the 4th quarter valued at approximately $34,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 2.3 %

OC stock opened at $134.17 on Friday. Owens Corning has a twelve month low of $126.15 and a twelve month high of $214.53. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $160.07 and its two-hundred day simple moving average is $175.44.

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. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 earnings per share. As a group, analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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 paid 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 2.06%. Owens Corning’s payout ratio is 37.70%.

Analyst Upgrades and Downgrades

OC has been the topic of several research analyst reports. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price target on the stock. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays decreased their target price 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, JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $202.42.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

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.