1,224,279 Shares in Owens Corning (NYSE:OC) Purchased by Norges Bank

Norges Bank bought a new position in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,224,279 shares of the construction company's stock, valued at approximately $208,519,000. Norges Bank owned 1.43% of Owens Corning at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC grew its position in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB raised its position in shares of 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 acquiring an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning in the fourth quarter worth approximately $34,000. 88.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company'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 completion of the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company's stock.

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Analyst Ratings Changes

OC has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating 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 company's stock. Based on data from MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and an average target price of $202.42.

Owens Corning Stock Down 6.5 %

NYSE OC traded down $9.51 during mid-day trading on Thursday, hitting $137.68. The company's stock had a trading volume of 422,741 shares, compared to its average volume of 946,202. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.88 and a beta of 1.52. The company's 50 day simple moving average is $162.15 and its 200 day simple moving average is $175.91. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $134.08 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during 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%. The firm's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 earnings per share. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

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.