Aquatic Capital Management LLC Buys 17,772 Shares of Owens Corning (NYSE:OC)

Aquatic Capital Management LLC boosted its position in shares of Owens Corning (NYSE:OC - Free Report) by 102.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,072 shares of the construction company's stock after purchasing an additional 17,772 shares during the period. Aquatic Capital Management LLC's holdings in Owens Corning were worth $5,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC lifted its stake in 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 in the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% during the 4th 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. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction on 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. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $143.95 on Friday. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a market cap of $12.31 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The business's 50 day moving average price is $144.56 and its two-hundred day moving average price is $170.89. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.88 billion. During the same quarter in the prior year, the business earned $3.21 EPS. The firm's revenue for the quarter was up 23.3% on a year-over-year basis. On average, analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, March 10th. Owens Corning's payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup lowered their target price 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. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.73.

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.

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