Banque Pictet & Cie SA Takes Position in Owens Corning (NYSE:OC)

Banque Pictet & Cie SA bought a new position in shares of Owens Corning (NYSE:OC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 186,507 shares of the construction company's stock, valued at approximately $31,766,000. Banque Pictet & Cie SA owned 0.22% of Owens Corning as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Owens Corning during the 3rd quarter worth about $38,000. Versant Capital Management Inc lifted its position in shares of Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company's stock worth $65,000 after purchasing an additional 178 shares in the last quarter. Finally, NBC Securities Inc. grew its position in Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company's stock valued at $90,000 after purchasing an additional 237 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on OC shares. Citigroup cut 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. The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Wells Fargo & Company upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $206.91.

Owens Corning Stock Performance

OC traded down $1.80 during midday trading on Tuesday, reaching $177.58. The company's stock had a trading volume of 608,843 shares, compared to its average volume of 692,630. 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 company has a fifty day simple moving average of $178.88 and a 200 day simple moving average of $178.70. The stock has a market cap of $15.23 billion, a P/E ratio of 15.11, a PEG ratio of 2.01 and a beta of 1.46. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid 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 1.55%. Owens Corning's payout ratio is 23.49%.

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.