United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Stake in Owens Corning (NYSE:OC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,000 shares of the construction company’s stock, valued at approximately $681,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. Commerce Bank lifted its position in Owens Corning by 13.8% during the third quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock valued at $583,000 after purchasing an additional 399 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Owens Corning by 18.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company’s stock valued at $838,000 after buying an additional 743 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Owens Corning by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock worth $104,704,000 after acquiring an additional 2,870 shares during the last quarter. Pitcairn Co. purchased a new position in Owens Corning in the third quarter worth $252,000. Finally, Penserra Capital Management LLC increased its stake in Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 1.0 %

NYSE:OC opened at $149.61 on Wednesday. The firm has a market capitalization of $12.80 billion, a P/E ratio of 12.73, a PEG ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The company’s 50-day simple moving average is $166.70 and its 200 day simple moving average is $176.65.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 yield of 1.84%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OC shares. JPMorgan Chase & Co. cut 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. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Barclays cut their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

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.