Magnetar Financial LLC Acquires 2,365 Shares of Owens Corning (NYSE:OC)

Magnetar Financial LLC boosted its position in shares of Owens Corning (NYSE:OC - Free Report) by 60.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,250 shares of the construction company's stock after buying an additional 2,365 shares during the quarter. Magnetar Financial LLC's holdings in Owens Corning were worth $1,064,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the 4th quarter valued at $28,000. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB lifted its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

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 that occurred 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 transaction, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.89% of the company's stock.

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Owens Corning Stock Down 1.0 %

Owens Corning stock traded down $1.53 during midday trading on Wednesday, reaching $147.77. The stock had a trading volume of 1,247,471 shares, compared to its average volume of 746,790. The stock has a market capitalization of $12.64 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The firm's fifty day simple moving average is $166.70 and its 200-day simple moving average is $176.65. 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 has a 1-year low of $137.50 and a 1-year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data 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 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 was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $3.21 earnings per share. As a group, analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.87%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Analysts Set New Price Targets

OC has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. Barclays cut their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. UBS Group dropped their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.18.

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.