3,300 Shares in Owens Corning (NYSE:OC) Purchased by Clare Market Investments LLC

Clare Market Investments LLC acquired a new stake in Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,300 shares of the construction company's stock, valued at approximately $562,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Nordea Investment Management AB raised its stake in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock worth $145,455,000 after acquiring an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

Owens Corning Stock Up 3.0 %

NYSE OC traded up $4.24 during trading on Wednesday, reaching $143.70. The company's stock had a trading volume of 506,215 shares, compared to its average volume of 926,612. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.29 billion, a PE ratio of 12.22, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The business has a 50-day moving average price of $171.71 and a 200-day moving average price of $177.99.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results 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 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 analyst estimates of $2.88 billion. During the same period last year, the company earned $3.21 earnings per share. The business's revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OC shares. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup decreased their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada decreased their target price on shares of Owens Corning from $224.00 to $212.00 and set an "outperform" 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 stock. According to MarketBeat.com, Owens Corning currently 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.