34,278 Shares in Owens Corning (NYSE:OC) Bought by Trexquant Investment LP

Trexquant Investment LP 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 34,278 shares of the construction company's stock, valued at approximately $5,838,000.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in 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 acquiring an additional 187,001 shares during the last quarter. Nordea Investment Management AB boosted its position 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 worth $366,166,000 after acquiring an additional 238,694 shares during the last quarter. Norges Bank acquired a new position in Owens Corning in the fourth quarter valued at $208,519,000. JPMorgan Chase & Co. lifted its stake in shares of Owens Corning by 113.9% in 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $109,091,000 after purchasing an additional 16,958 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

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Owens Corning Stock Down 7.4 %

NYSE:OC traded down $10.39 during mid-day trading on Thursday, reaching $130.93. The stock had a trading volume of 289,526 shares, compared to its average volume of 793,300. 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 company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The stock's 50 day simple moving average is $154.47 and its two-hundred day simple moving average is $173.98.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 EPS 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 return on equity of 25.82% and a net margin of 9.92%. The business's revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 EPS. Equities analysts anticipate 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 $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.11%. Owens Corning's dividend payout ratio is currently 37.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OC. Wells Fargo & Company reduced their price target on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, 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 research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.42.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company's 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 owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently owned by 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.