Candriam S.C.A. Has $28.77 Million Stake in Owens Corning (NYSE:OC)

Candriam S.C.A. boosted its stake in shares of Owens Corning (NYSE:OC - Free Report) by 37.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 168,891 shares of the construction company's stock after buying an additional 46,236 shares during the period. Candriam S.C.A. owned approximately 0.20% of Owens Corning worth $28,766,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of OC. JPMorgan Chase & Co. raised its holdings in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $51,220,000. Pacer Advisors Inc. raised its holdings in shares of Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock valued at $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $43,559,000. Finally, Nordea Investment Management AB raised its holdings in shares of Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after purchasing an additional 238,694 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on OC. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their target price on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada decreased their target price on shares of Owens Corning from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Barclays decreased their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $204.18.

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Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the business's 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 completion of the transaction, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Owens Corning Stock Performance

OC stock traded down $1.06 during midday trading on Friday, reaching $144.54. 1,359,012 shares of the company were exchanged, compared to its average volume of 904,948. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. 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 one year low of $140.94 and a one year high of $214.53. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The company's revenue was up 23.3% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

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.