Bank Pictet & Cie Europe AG Makes New Investment in Owens Corning (NYSE:OC)

Bank Pictet & Cie Europe AG bought a new stake in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 168,219 shares of the construction company's stock, valued at approximately $28,651,000. Bank Pictet & Cie Europe AG owned 0.20% of Owens Corning at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after acquiring an additional 53 shares during the period. Greenleaf Trust lifted its position in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after buying an additional 56 shares in the last quarter. Retirement Guys Formula LLC boosted its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock valued at $342,000 after acquiring an additional 58 shares during the last quarter. PFG Investments LLC increased its holdings in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock worth $323,000 after buying an additional 68 shares during the last quarter. Finally, First Bank & Trust grew its holdings in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock worth $646,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of NYSE OC traded down $3.33 during midday trading on Wednesday, hitting $174.29. 727,454 shares of the company's stock were exchanged, compared to its average volume of 693,717. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock's 50 day moving average price is $178.40 and its 200-day moving average price is $178.67. The firm has a market cap of $14.95 billion, a P/E ratio of 14.83, a PEG ratio of 1.96 and a beta of 1.46.

Owens Corning Dividend Announcement

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 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 dividend yield of 1.58%. Owens Corning's dividend payout ratio (DPR) is 23.49%.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OC has been the topic of several research reports. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. UBS Group raised their price target on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. 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, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $206.91.

Owens Corning Company 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.