25,792 Shares in Owens Corning (NYSE:OC) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Owens Corning (NYSE:OC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,792 shares of the construction company's stock, valued at approximately $4,394,000.

A number of other institutional investors also recently modified their holdings of OC. Nordea Investment Management AB lifted its stake in shares of Owens Corning by 12.5% in 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 purchased a new stake in Owens Corning during the fourth quarter worth about $208,519,000. JPMorgan Chase & Co. raised 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 valued at $140,818,000 after purchasing an additional 424,786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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. Finally, AustralianSuper Pty Ltd lifted its position in Owens Corning by 1.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 593,831 shares of the construction company's stock valued at $101,141,000 after purchasing an additional 10,448 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Monday. UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped 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 restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.67.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by company insiders.

Owens Corning Stock Performance

Shares of NYSE OC traded up $0.55 during trading hours on Monday, reaching $139.57. The stock had a trading volume of 58,018 shares, compared to its average volume of 798,005. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The firm has a 50-day moving average of $152.71 and a 200-day moving average of $173.48. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.98%. Owens Corning's dividend payout ratio is presently 37.70%.

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.