Owens Corning (NYSE:OC) Stock Holdings Increased by Prudential PLC

Prudential PLC grew its holdings in shares of Owens Corning (NYSE:OC) by 122.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,742 shares of the construction company’s stock after buying an additional 1,511 shares during the period. Prudential PLC’s holdings in Owens Corning were worth $467,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its stake in 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 purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its stake 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 in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning in the fourth quarter valued at $34,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 2.8 %

Shares of NYSE OC opened at $126.11 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a one year low of $124.33 and a one year high of $214.53. The business has a 50-day moving average price of $156.31 and a two-hundred day moving average price of $174.44. The firm has a market capitalization of $10.79 billion, a PE ratio of 10.73, a PEG ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC) last posted its quarterly 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 business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted $3.21 earnings per share. As a group, analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

OC has been the topic of several research reports. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Barclays dropped their target price on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company decreased 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. Finally, Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

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.