Twinbeech Capital LP Purchases New Holdings in Owens Corning (NYSE:OC)

Twinbeech Capital LP purchased a new position in shares of Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 133,274 shares of the construction company's stock, valued at approximately $22,699,000. Twinbeech Capital LP owned 0.16% of Owens Corning at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in Owens Corning in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC increased its holdings in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in Owens Corning by 193.7% during the fourth 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 last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the fourth quarter worth approximately $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of NYSE:OC traded up $1.14 on Monday, hitting $145.11. The company had a trading volume of 744,004 shares, compared to its average volume of 731,653. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The business has a 50 day moving average of $169.96 and a 200 day moving average of $177.43. The company has a market cap of $12.41 billion, a PE ratio of 12.35, a PEG ratio of 1.88 and a beta of 1.52.

Remove Ads

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.21 earnings per share. As a group, equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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 paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.90%. Owens Corning's dividend payout ratio is presently 37.70%.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the 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 completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OC has been the subject of several recent analyst reports. StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price target 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. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, UBS Group cut their price target 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. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average target price of $204.18.

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.