Price T Rowe Associates Inc. MD Buys 414,770 Shares of Owens Corning (NYSE:OC)

Price T Rowe Associates Inc. MD grew its position in shares of Owens Corning (NYSE:OC - Free Report) by 41.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,422,828 shares of the construction company's stock after buying an additional 414,770 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.66% of Owens Corning worth $242,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% during the 4th 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 purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the fourth quarter worth approximately $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business'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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Owens Corning Trading Down 0.0 %

OC stock opened at $143.95 on Friday. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 12.25, 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. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The business has a 50 day simple moving average of $144.56 and a two-hundred day simple moving average of $170.97.

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 for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted $3.21 earnings per share. Research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is 37.70%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup decreased 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. Barclays lowered their target price on Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $195.73.

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.

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