J. Safra Sarasin Holding AG Grows Holdings in Owens Corning (NYSE:OC)

J. Safra Sarasin Holding AG boosted its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 203,849 shares of the construction company's stock after acquiring an additional 14,516 shares during the period. J. Safra Sarasin Holding AG owned 0.24% of Owens Corning worth $34,720,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OC. Norges Bank bought a new stake in shares of Owens Corning in the 4th quarter valued at about $208,519,000. JPMorgan Chase & Co. grew its holdings 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 valued at $140,818,000 after buying an additional 424,786 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Owens Corning in the 4th quarter valued at $51,220,000. Nordea Investment Management AB raised its stake in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after buying an additional 238,694 shares during the period. Finally, LGT Group Foundation acquired a new stake in Owens Corning during the 4th quarter worth $39,054,000. Institutional investors own 88.40% of the company's stock.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

OC has been the topic of a number of research analyst reports. UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company lowered their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Citigroup decreased their target price on shares of 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 nine have issued 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 $194.58.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $5.79 on Thursday, reaching $143.96. 717,387 shares of the stock were exchanged, compared to its average volume of 807,093. Owens Corning has a one year low of $123.41 and a one year high of $214.53. 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's 50 day moving average is $145.23 and its 200-day moving average is $171.23. The firm has a market cap of $12.31 billion, a PE ratio of 12.25, a P/E/G ratio of 1.88 and a beta of 1.39.

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 net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The company's revenue was up 23.3% on a year-over-year basis. As a group, analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.92%. Owens Corning's dividend payout ratio is presently 37.70%.

About Owens Corning

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.