Aigen Investment Management LP Makes New Investment in Owens Corning (NYSE:OC)

Aigen Investment Management LP bought a new position in Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,902 shares of the construction company's stock, valued at approximately $665,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Owens Corning in the 3rd quarter worth $156,000. Farther Finance Advisors LLC boosted its stake in shares of Owens Corning by 115.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,686 shares of the construction company's stock worth $474,000 after buying an additional 1,440 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Owens Corning by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,375 shares of the construction company's stock worth $8,892,000 after buying an additional 835 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Owens Corning by 6.9% in the 3rd quarter. Van ECK Associates Corp now owns 39,318 shares of the construction company's stock worth $7,129,000 after buying an additional 2,530 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Owens Corning by 52.1% in the 3rd quarter. National Pension Service now owns 218,216 shares of the construction company's stock worth $38,519,000 after buying an additional 74,703 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

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Owens Corning Price Performance

Shares of Owens Corning stock traded down $1.06 during trading hours on Friday, hitting $144.54. The company's stock had a trading volume of 1,359,012 shares, compared to its average volume of 904,948. The business has a 50 day moving average price of $172.91 and a two-hundred day moving average price of $178.38. Owens Corning has a 12-month low of $140.94 and a 12-month high of $214.53. The company has a market cap of $12.36 billion, a PE ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS 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 business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $3.21 earnings per share. The business's revenue was up 23.3% on a year-over-year basis. Analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning's payout ratio is 37.70%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $204.18.

About Owens Corning

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.