Quantbot Technologies LP Raises Stock Holdings in Owens Corning (NYSE:OC)

Quantbot Technologies LP grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 8,734.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,184 shares of the construction company's stock after acquiring an additional 6,114 shares during the period. Quantbot Technologies LP's holdings in Owens Corning were worth $1,053,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC boosted 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 worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB grew 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 acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OC. UBS Group reduced their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Loop Capital decreased 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. Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price target 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, Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.18.

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Owens Corning Stock Performance

Owens Corning stock traded down $4.51 during trading on Friday, hitting $142.64. The stock had a trading volume of 793,039 shares, compared to its average volume of 779,729. The stock's 50 day moving average is $164.63 and its two-hundred day moving average is $176.28. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. Owens Corning's payout ratio is 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction 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 represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

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.