Ruffer LLP Makes New $5.24 Million Investment in Owens Corning (NYSE:OC)

Ruffer LLP purchased a new position in shares of Owens Corning (NYSE:OC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,741 shares of the construction company's stock, valued at approximately $5,236,000.

A number of other institutional investors have also modified their holdings of OC. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC grew its stake 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 buying an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB raised its position 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 buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Stock Performance

NYSE OC opened at $144.54 on Friday. The firm has a 50-day moving average price of $172.91 and a two-hundred day moving average price of $178.27. The company has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a P/E/G 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 has a 12-month low of $140.94 and a 12-month high of $214.53.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning's dividend payout ratio is currently 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm'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 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 disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

OC has been the topic of several research analyst reports. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Citigroup reduced 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 reduced their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Loop Capital cut 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 note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $204.18.

About Owens Corning

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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