Aster Capital Management DIFC Ltd Has $501,000 Stake in Owens Corning (NYSE:OC)

Aster Capital Management DIFC Ltd grew its stake in Owens Corning (NYSE:OC - Free Report) by 2,436.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,942 shares of the construction company's stock after purchasing an additional 2,826 shares during the period. Aster Capital Management DIFC Ltd's holdings in Owens Corning were worth $501,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co bought a new stake in Owens Corning in the 4th quarter valued at $2,299,000. Wedbush Securities Inc. acquired a new position in Owens Corning in the fourth quarter worth about $247,000. Envestnet Asset Management Inc. lifted its stake in Owens Corning by 0.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 194,032 shares of the construction company's stock worth $33,048,000 after purchasing an additional 1,645 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Owens Corning during the fourth quarter valued at approximately $4,394,000. Finally, Wells Fargo & Company MN grew its stake in shares of Owens Corning by 153.7% in the 4th quarter. Wells Fargo & Company MN now owns 148,284 shares of the construction company's stock valued at $25,256,000 after purchasing an additional 89,825 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were 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 owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

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Analyst Ratings Changes

OC has been the topic of several recent analyst reports. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Wells Fargo & Company dropped their target price 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. Barclays decreased their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research note on Tuesday. Royal Bank of Canada restated an "outperform" rating and set a $212.00 target price on shares of Owens Corning in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and an average price target of $199.42.

Owens Corning Trading Up 3.2 %

Shares of NYSE:OC traded up $4.36 during midday 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. The firm has a fifty day simple moving average of $152.71 and a 200 day simple moving average of $173.49. 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 current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $123.41 and a 12 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 earnings per share (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 analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 EPS. On average, analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

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

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.