Owens Corning (NYSE:OC) Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593,831 shares of the construction company's stock after purchasing an additional 10,448 shares during the quarter. AustralianSuper Pty Ltd owned 0.69% of Owens Corning worth $101,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Pictet & Cie SA purchased a new position in Owens Corning during the fourth quarter worth $31,766,000. V Square Quantitative Management LLC lifted its holdings in shares of Owens Corning by 18.9% in the 4th quarter. V Square Quantitative Management LLC now owns 4,279 shares of the construction company's stock worth $729,000 after acquiring an additional 679 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Owens Corning by 17.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,852 shares of the construction company's stock worth $1,508,000 after purchasing an additional 1,338 shares during the period. Park Capital Management LLC WI bought a new position in Owens Corning during the 4th quarter valued at about $319,000. Finally, Van ECK Associates Corp raised its position in Owens Corning by 1.2% in the 4th quarter. Van ECK Associates Corp now owns 39,805 shares of the construction company's stock worth $6,780,000 after purchasing an additional 487 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OC shares. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Citigroup dropped their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.91.

Owens Corning Stock Down 1.9 %

Shares of NYSE:OC traded down $3.33 on Wednesday, reaching $174.29. The company had a trading volume of 727,454 shares, compared to its average volume of 693,717. 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 firm has a market capitalization of $14.95 billion, a PE ratio of 14.83, a PEG ratio of 1.96 and a beta of 1.46. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The firm's 50 day simple moving average is $178.40 and its 200-day simple moving average is $178.67.

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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's payout ratio is 23.49%.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm's 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 of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the company'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. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

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.