Nordea Investment Management AB Buys 238,694 Shares of Owens Corning (NYSE:OC)

Nordea Investment Management AB boosted its stake in Owens Corning (NYSE:OC - Free Report) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,148,610 shares of the construction company's stock after buying an additional 238,694 shares during the quarter. Nordea Investment Management AB owned approximately 2.50% of Owens Corning worth $366,166,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Retirement Guys Formula LLC lifted its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock worth $342,000 after buying an additional 58 shares in the last quarter. PFG Investments LLC increased its position in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock valued at $323,000 after purchasing an additional 68 shares during the last quarter. Tobam raised its stake in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company's stock worth $47,000 after purchasing an additional 73 shares during the period. First Bank & Trust grew its position in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock valued at $646,000 after buying an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC increased its holdings in Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company's stock worth $959,000 after buying an additional 80 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of research reports. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Wells Fargo & Company upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.17.

Owens Corning Trading Down 0.6 %

Shares of NYSE OC traded down $1.10 during midday trading on Monday, reaching $171.04. The company had a trading volume of 441,169 shares, compared to its average volume of 526,090. The firm's fifty day moving average price is $187.70 and its 200-day moving average price is $177.35. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The stock has a market cap of $14.67 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.15 earnings per share. On average, equities research analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a $0.69 dividend. The ex-dividend date is Monday, January 6th. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.61%. Owens Corning's dividend payout ratio (DPR) is 23.49%.

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.