Pictet Asset Management Holding SA Purchases 5,826 Shares of Owens Corning (NYSE:OC)

Pictet Asset Management Holding SA increased its position in shares of Owens Corning (NYSE:OC - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,592 shares of the construction company's stock after purchasing an additional 5,826 shares during the period. Pictet Asset Management Holding SA owned about 0.16% of Owens Corning worth $23,605,000 at the end of the most recent reporting period.

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

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on OC. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday. They set a "buy" rating and a $183.00 price objective for the company. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Loop Capital decreased their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and a consensus target price of $202.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by company insiders.

Owens Corning Trading Down 6.7 %

OC traded down $9.88 during mid-day trading on Thursday, reaching $137.31. The stock had a trading volume of 1,158,030 shares, compared to its average volume of 782,359. The firm's fifty day simple moving average is $162.15 and its two-hundred day simple moving average is $175.91. The stock has a market capitalization of $11.75 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 52 week low of $134.18 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The business 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 quarter last year, the business earned $3.21 earnings per share. On average, equities analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid 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 is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) 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.