Rathbones Group PLC Purchases 9,324 Shares of Owens Corning (NYSE:OC)

Rathbones Group PLC raised its holdings in Owens Corning (NYSE:OC - Free Report) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,474 shares of the construction company's stock after acquiring an additional 9,324 shares during the quarter. Rathbones Group PLC's holdings in Owens Corning were worth $6,212,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OC. State Street Corp lifted its stake in shares of Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after purchasing an additional 187,001 shares during the last quarter. Nordea Investment Management AB raised its holdings in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the fourth quarter worth about $208,519,000. JPMorgan Chase & Co. boosted its stake in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Owens Corning by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company's stock valued at $109,091,000 after acquiring an additional 16,958 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

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Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the 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 directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This 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 available through this link. 0.82% of the stock is currently owned by corporate insiders.

Owens Corning Price Performance

NYSE:OC traded up $4.36 during trading hours on Friday, reaching $138.84. The company had a trading volume of 1,018,788 shares, compared to its average volume of 800,901. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $152.71 and a two-hundred day moving average of $173.48. Owens Corning has a one year low of $123.41 and a one year high of $214.53. The firm has a market capitalization of $11.88 billion, a PE ratio of 11.82, a PEG ratio of 1.88 and a beta of 1.39.

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 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 net margin of 9.92% and a return on equity of 25.82%. The company's revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted $3.21 earnings per share. Analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

OC has been the subject of several analyst reports. UBS Group reduced their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and a consensus target price of $199.42.

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.