Owens Corning (NYSE:OC) Shares Bought by Pitcairn Co.

Pitcairn Co. grew its position in Owens Corning (NYSE:OC) by 98.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,830 shares of the construction company’s stock after acquiring an additional 1,401 shares during the quarter. Pitcairn Co.’s holdings in Owens Corning were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its position 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 bought a new position in Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning during the fourth quarter valued at $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OC has been the topic of a number of analyst reports. Citigroup dropped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Finally, UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.42.

Owens Corning Price Performance

NYSE:OC opened at $134.17 on Friday. 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 business’s 50-day moving average price is $160.07 and its 200 day moving average price is $175.44. Owens Corning has a 52-week low of $126.15 and a 52-week high of $214.53. The firm has a market cap of $11.48 billion, a P/E ratio of 11.42, a PEG ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $3.21 EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.06%. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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.