Integrated Quantitative Investments LLC Acquires Shares of 2,050 Owens Corning (NYSE:OC)

Integrated Quantitative Investments LLC acquired a new position in Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,050 shares of the construction company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Owens Corning in the fourth quarter worth $208,519,000. JPMorgan Chase & Co. grew its position in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after buying an additional 424,786 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Owens Corning in the 4th quarter worth about $51,220,000. Nordea Investment Management AB increased its stake in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation bought a new stake in Owens Corning during the fourth quarter worth about $39,054,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of OC traded down $9.37 during mid-day trading on Thursday, reaching $131.95. The stock had a trading volume of 354,229 shares, compared to its average volume of 969,094. The business has a fifty day moving average of $154.47 and a 200 day moving average of $173.98. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $123.40 and a 12 month high of $214.53.

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Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $3.21 EPS. Owens Corning's revenue for the quarter was up 23.3% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, March 10th. Owens Corning's payout ratio is currently 37.70%.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated 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 approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on OC. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price target 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective on the stock. Loop Capital cut their target price 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. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average 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.