Triodos Investment Management BV Acquires 16,000 Shares of Owens Corning (NYSE:OC)

Triodos Investment Management BV boosted its position in Owens Corning (NYSE:OC - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,000 shares of the construction company's stock after acquiring an additional 16,000 shares during the period. Owens Corning accounts for about 1.9% of Triodos Investment Management BV's holdings, making the stock its 25th biggest position. Triodos Investment Management BV owned approximately 0.16% of Owens Corning worth $23,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OC. Massachusetts Financial Services Co. MA lifted its holdings in shares of Owens Corning by 18.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company's stock valued at $838,000 after purchasing an additional 743 shares in the last quarter. Pitcairn Co. purchased a new stake in shares of Owens Corning during the third quarter valued at approximately $252,000. Penserra Capital Management LLC lifted its holdings in Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock worth $832,000 after acquiring an additional 1,643 shares during the period. Daiwa Securities Group Inc. boosted its position in Owens Corning by 5.4% in the third quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company's stock worth $2,399,000 after purchasing an additional 700 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in Owens Corning by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 141,803 shares of the construction company's stock valued at $25,031,000 after purchasing an additional 7,553 shares during the period. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OC. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Wells Fargo & Company reduced their target price on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Citigroup dropped their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays reduced their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.42.

Owens Corning Price Performance

Owens Corning stock traded up $0.12 during midday trading on Tuesday, reaching $142.94. 155,417 shares of the stock were exchanged, compared to its average volume of 778,577. The company's fifty day moving average is $163.83 and its 200-day moving average is $176.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The firm has a market cap of $12.23 billion, a PE ratio of 12.22, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last announced its 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. The business 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%. Owens Corning's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.21 earnings per share. On average, sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. Owens Corning's dividend payout ratio is 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by corporate 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.