Principal Financial Group Inc. Has $66.78 Million Stock Holdings in Owens Corning (NYSE:OC)

Principal Financial Group Inc. boosted its position in shares of Owens Corning (NYSE:OC) by 88.9% in the fourth quarter, Holdings Channel reports. The firm owned 392,031 shares of the construction company’s stock after purchasing an additional 184,552 shares during the period. Principal Financial Group Inc.’s holdings in Owens Corning were worth $66,777,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OC. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its holdings in shares of 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 acquiring an additional 122 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Owens Corning during the third quarter worth about $38,000. Versant Capital Management Inc lifted its holdings in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after purchasing an additional 178 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Owens Corning by 44.8% in the 3rd quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock valued at $100,000 after purchasing an additional 175 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Owens Corning Trading Down 1.9 %

Shares of Owens Corning stock opened at $174.29 on Thursday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. 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 is $178.40 and its 200-day moving average is $178.67. The stock has a market cap of $14.95 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.96 and a beta of 1.46.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. 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 report on Friday, January 10th. Finally, Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.91.

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.