Zurcher Kantonalbank Zurich Cantonalbank Buys 16,958 Shares of Owens Corning (NYSE:OC)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Owens Corning (NYSE:OC - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 640,506 shares of the construction company's stock after buying an additional 16,958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.75% of Owens Corning worth $109,091,000 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. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the fourth quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $144.54 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $12.36 billion, a PE ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. The business has a 50 day moving average of $172.91 and a 200 day moving average of $178.38. Owens Corning has a 52 week low of $140.94 and a 52 week high of $214.53.

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Owens Corning (NYSE:OC - Get Free Report) last announced its 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 the consensus estimate 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 for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 earnings per share. As a group, equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. Owens Corning's dividend payout ratio (DPR) is 37.70%.

Analysts Set New Price Targets

Several analysts have issued reports on OC shares. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.18.

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.

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