Owens Corning (NYSE:OC) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI grew its stake in shares of Owens Corning (NYSE:OC - Free Report) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,423 shares of the construction company's stock after purchasing an additional 12,293 shares during the quarter. National Bank of Canada FI's holdings in Owens Corning were worth $6,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Owens Corning by 193.7% in 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 in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Owens Corning during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Citigroup reduced their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. 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.com, Owens Corning currently has an average rating of "Moderate Buy" and a consensus price target of $199.42.

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Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business'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 transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by insiders.

Owens Corning Stock Performance

Shares of NYSE OC traded up $4.36 during mid-day trading on Friday, hitting $138.84. The company had a trading volume of 1,018,788 shares, compared to its average volume of 799,733. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.88 and a beta of 1.39. 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 firm's 50 day simple moving average is $152.71 and its two-hundred day simple moving average is $173.49.

Owens Corning (NYSE:OC - Get Free Report) last posted its 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 analysts' expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business posted $3.21 earnings per share. As a group, equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's payout ratio is 37.70%.

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.