Mirova Makes New Investment in Owens Corning (NYSE:OC)

Mirova purchased a new position in shares of Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,803 shares of the construction company’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Owens Corning in the 4th quarter valued at approximately $208,519,000. JPMorgan Chase & Co. increased its position in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth $51,220,000. Nordea Investment Management AB grew its stake in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after acquiring an additional 238,694 shares during the last quarter. Finally, LGT Group Foundation purchased a new position in Owens Corning during the 4th quarter valued at about $39,054,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on OC shares. JPMorgan Chase & Co. dropped 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. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada decreased their target price on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.58.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $137.98 on Friday. The company’s fifty day moving average price is $148.43 and its two-hundred day moving average price is $172.23. 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 firm has a market capitalization of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion for 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%. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 EPS. On average, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

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.