Mirova Makes New $648,000 Investment in Owens Corning (NYSE:OC)

Mirova acquired a new position in shares of Owens Corning (NYSE:OC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,803 shares of the construction company's stock, valued at approximately $648,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OC. Stratos Wealth Partners LTD. grew its holdings in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after purchasing an additional 53 shares during the last quarter. Greenleaf Trust boosted its position in Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after buying an additional 56 shares during the period. Retirement Guys Formula LLC grew its holdings in Owens Corning by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock worth $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc increased its position in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after acquiring an additional 62 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Up 1.9 %

Shares of OC traded up $2.58 during trading hours on Tuesday, hitting $137.00. The stock had a trading volume of 642,141 shares, compared to its average volume of 809,103. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The firm has a market capitalization of $11.72 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The firm has a 50 day simple moving average of $146.77 and a 200-day simple moving average of $171.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OC. Barclays decreased their price objective on Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and a consensus price target of $194.58.

Insider Buying and Selling at Owens Corning

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

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.