Ilmarinen Mutual Pension Insurance Co Makes New $2.30 Million Investment in Owens Corning (NYSE:OC)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,500 shares of the construction company's stock, valued at approximately $2,299,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hilltop Holdings Inc. purchased a new position in shares of Owens Corning during the third quarter valued at approximately $364,000. Janus Henderson Group PLC grew its position in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after acquiring an additional 200 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Owens Corning in the third quarter worth $715,000. Quarry LP lifted its position in shares of Owens Corning by 168.0% during the third quarter. Quarry LP now owns 619 shares of the construction company's stock worth $109,000 after purchasing an additional 388 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Owens Corning during the third quarter valued at $1,095,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

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Owens Corning Price Performance

Shares of OC stock traded up $2.93 during trading hours on Friday, hitting $137.41. 358,455 shares of the company's stock were exchanged, compared to its average volume of 795,825. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $153.55 and a two-hundred day moving average of $173.70. The firm has a market cap of $11.75 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53.

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

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were paid a $0.69 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 2.01%. Owens Corning's dividend payout ratio (DPR) is 37.70%.

Analysts Set New Price Targets

OC has been the subject of a number of research analyst reports. Loop Capital decreased 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. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Wells Fargo & Company dropped their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Five investment 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $199.42.

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.