1,451 Shares in Owens Corning (NYSE:OC) Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. purchased a new position in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,451 shares of the construction company’s stock, valued at approximately $247,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Norges Bank bought a new stake in Owens Corning during the fourth quarter worth about $208,519,000. JPMorgan Chase & Co. increased its holdings in Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Owens Corning by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock valued at $109,091,000 after buying an additional 16,958 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Owens Corning by 1.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 593,831 shares of the construction company’s stock valued at $101,141,000 after buying an additional 10,448 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OC. Barclays lowered their price target on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group lowered their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $199.42.

Owens Corning Stock Down 4.8 %

OC stock opened at $134.58 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. The stock has a market capitalization of $11.51 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The business has a 50-day moving average of $153.55 and a 200-day moving average of $173.70.

Owens Corning (NYSE:OC) last released 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. The firm had revenue of $2.84 billion during 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%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 EPS. On average, sell-side analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 2.05%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

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.