Sciencast Management LP Makes New Investment in Owens Corning (NYSE:OC)

Sciencast Management LP purchased a new stake 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 purchased 1,800 shares of the construction company's stock, valued at approximately $307,000.

Several other institutional investors also recently modified their holdings of OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the 4th quarter valued at about $28,000. Venturi Wealth Management LLC boosted 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 worth $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB grew its position in shares of Owens Corning by 193.7% during the 4th 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 purchased a new stake in shares of Owens Corning in the 4th quarter worth $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock traded down $1.43 during trading on Tuesday, reaching $149.76. 272,495 shares of the stock traded hands, compared to its average volume of 743,323. Owens Corning has a 52-week low of $137.50 and a 52-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 business has a fifty day simple moving average of $167.19 and a two-hundred day simple moving average of $176.71. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.88 and a beta of 1.52.

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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 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 25.82% and a net margin of 9.92%. The firm's revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.21 earnings per share. Sell-side analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, March 10th. Owens Corning's payout ratio is 37.70%.

Analyst Ratings Changes

OC has been the subject of several recent research reports. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Citigroup lowered their price target 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. reduced their price objective on shares of 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 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. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average target price of $204.18.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by company 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.