Owens Corning (NYSE:OC) Position Increased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its stake in Owens Corning (NYSE:OC) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,849 shares of the construction company’s stock after buying an additional 14,516 shares during the period. J. Safra Sarasin Holding AG’s holdings in Owens Corning were worth $34,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its stake in Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust increased its position in Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after acquiring an additional 56 shares during the period. Retirement Guys Formula LLC increased its holdings in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after purchasing an additional 60 shares during the period. IFP Advisors Inc lifted its holdings in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after purchasing an additional 62 shares during the period. Finally, Parallel Advisors LLC increased its stake in Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC stock opened at $137.98 on Monday. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a 50 day simple moving average of $148.43 and a 200 day simple moving average of $172.23. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $3.21 earnings per share. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. Research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’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 transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on OC. Barclays decreased their price objective on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price target on the stock. UBS Group dropped their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Loop Capital dropped their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company decreased their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.58.

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.