Ilmarinen Mutual Pension Insurance Co Invests $2.30 Million in Owens Corning (NYSE:OC)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,500 shares of the construction company’s stock, valued at approximately $2,299,000.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% in 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 during the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning in the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB raised its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning during the 4th quarter valued at $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction 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. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by corporate insiders.

Owens Corning Stock Performance

OC stock opened at $134.17 on Friday. 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 1 year low of $126.15 and a 1 year high of $214.53. The company has a market cap of $11.48 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The stock’s fifty day moving average price is $160.07 and its 200-day moving average price is $175.44.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 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. On average, equities analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 2.06%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OC. Loop Capital decreased their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Citigroup dropped their price target 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, Wells Fargo & Company cut their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $202.42.

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.