Principal Financial Group Inc. Has $66.78 Million Stake in Owens Corning (NYSE:OC)

Principal Financial Group Inc. raised its position in Owens Corning (NYSE:OC - Free Report) by 88.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,031 shares of the construction company's stock after acquiring an additional 184,552 shares during the period. Principal Financial Group Inc. owned about 0.46% of Owens Corning worth $66,777,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Alpha DNA Investment Management LLC boosted its position in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company's stock valued at $754,000 after acquiring an additional 2,544 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% during the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after purchasing an additional 200 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock valued at $832,000 after purchasing an additional 1,643 shares during the period. Atria Investments Inc raised its holdings in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after buying an additional 6,373 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Owens Corning during the 3rd quarter worth approximately $1,046,000. Institutional investors own 88.40% of the company's stock.

Owens Corning Trading Down 5.0 %

Shares of NYSE OC traded down $8.61 during midday trading on Friday, hitting $163.50. The stock had a trading volume of 478,857 shares, compared to its average volume of 686,680. The firm has a market cap of $14.02 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.46. Owens Corning has a fifty-two week low of $143.50 and a fifty-two week high of $214.53. 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 company's 50-day simple moving average is $177.95 and its 200 day simple moving average is $178.62.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 23.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Barclays upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Finally, UBS Group lifted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.30.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The stock was 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 of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

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.