LGT Fund Management Co Ltd. Takes Position in Owens Corning (NYSE:OC)

LGT Fund Management Co Ltd. acquired a new stake in shares of Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,255 shares of the construction company's stock, valued at approximately $1,065,000.

A number of other large investors have also bought and sold shares of OC. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its position in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the fourth quarter worth about $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $5.02 during trading on Wednesday, reaching $149.05. 838,146 shares of the stock traded hands, compared to its average volume of 872,351. 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 company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.88 and a beta of 1.46. Owens Corning has a 52-week low of $140.94 and a 52-week high of $214.53. The business has a fifty day simple moving average of $174.41 and a two-hundred day simple moving average of $178.71.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Sell-side analysts expect 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 will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.85%. Owens Corning's payout ratio is 37.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OC shares. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. UBS Group lowered 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. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.18.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated 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 owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Company 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.