Generali Asset Management SPA SGR Invests $2.52 Million in Owens Corning (NYSE:OC)

Generali Asset Management SPA SGR bought a new position in Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,812 shares of the construction company's stock, valued at approximately $2,523,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signaturefd LLC raised its stake in shares of Owens Corning by 53.2% during the 4th quarter. Signaturefd LLC now owns 1,529 shares of the construction company's stock valued at $260,000 after purchasing an additional 531 shares during the period. Parallel Advisors LLC increased its position in shares of Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after buying an additional 62 shares during the period. Gallacher Capital Management LLC bought a new stake in Owens Corning during the 4th quarter worth approximately $216,000. Corient Private Wealth LLC grew its position in Owens Corning by 9.0% during the fourth quarter. Corient Private Wealth LLC now owns 35,503 shares of the construction company's stock worth $6,047,000 after buying an additional 2,935 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Owens Corning by 1.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,251 shares of the construction company's stock valued at $1,576,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Trading Up 4.7 %

OC traded up $6.77 during midday trading on Monday, reaching $151.21. 814,474 shares of the company's stock traded hands, compared to its average volume of 743,384. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. 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 firm has a fifty day moving average of $167.56 and a two-hundred day moving average of $176.76. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.88 and a beta of 1.52.

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Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. On average, equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 1.83%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

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 shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OC. Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Barclays lowered their price objective on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.18.

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.