KBC Group NV Has $61.73 Million Stock Position in Owens Corning (NYSE:OC)

KBC Group NV boosted its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 97.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,416 shares of the construction company's stock after acquiring an additional 178,710 shares during the quarter. KBC Group NV owned 0.42% of Owens Corning worth $61,727,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OC. APG Asset Management N.V. grew its stake in Owens Corning by 173.0% in the second quarter. APG Asset Management N.V. now owns 9,469 shares of the construction company's stock valued at $1,535,000 after purchasing an additional 6,000 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $1,147,000. Creative Planning increased its holdings in Owens Corning by 10.1% in the second quarter. Creative Planning now owns 8,410 shares of the construction company's stock worth $1,461,000 after buying an additional 772 shares during the last quarter. NewEdge Advisors LLC raised its position in Owens Corning by 215.1% during the second quarter. NewEdge Advisors LLC now owns 5,568 shares of the construction company's stock valued at $967,000 after acquiring an additional 3,801 shares in the last quarter. Finally, Quarry LP grew its position in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on OC shares. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group raised their target price on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. UBS Group increased their price objective on Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Finally, Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $201.75.

Owens Corning Stock Performance

Owens Corning stock traded down $6.12 on Friday, hitting $184.70. The company's stock had a trading volume of 558,469 shares, compared to its average volume of 663,830. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The firm has a market cap of $15.84 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.04 and a beta of 1.46. 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 company has a fifty day moving average price of $184.95 and a 200-day moving average price of $178.48.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.15 earnings per share. On average, equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, January 6th. This is an increase from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio (DPR) is 23.49%.

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.