Owens Corning (NYSE:OC) Shares Purchased by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd raised its stake in Owens Corning (NYSE:OC) by 2,436.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,942 shares of the construction company’s stock after buying an additional 2,826 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Owens Corning were worth $501,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC raised its holdings in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Owens Corning by 193.7% in the fourth 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 during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $134.17 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $114.86 and a 12 month high of $214.53. The company’s fifty day moving average is $160.07 and its 200-day moving average is $175.46. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

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 the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $3.21 earnings per share. Equities analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a research note on Monday, March 17th. Barclays decreased their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. UBS Group decreased their price objective 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. Finally, StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.42.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated 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 in the company, 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 this hyperlink. 0.82% of the stock is owned by corporate insiders.

About Owens Corning

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.