Trexquant Investment LP Purchases Shares of 34,278 Owens Corning (NYSE:OC)

Trexquant Investment LP acquired a new stake in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 34,278 shares of the construction company’s stock, valued at approximately $5,838,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OC. Headlands Technologies LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at $2,350,000. National Bank of Canada FI grew its stake in shares of Owens Corning by 48.9% in the 4th quarter. National Bank of Canada FI now owns 37,423 shares of the construction company’s stock worth $6,374,000 after buying an additional 12,293 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Owens Corning by 44.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,381 shares of the construction company’s stock worth $916,000 after buying an additional 1,650 shares during the last quarter. Allianz SE purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $281,000. Finally, Allstate Corp bought a new position in shares of Owens Corning in the 4th quarter valued at about $425,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were 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 $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by corporate insiders.

Owens Corning Stock Down 2.3 %

NYSE:OC 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. The firm has a market cap of $11.48 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a 50-day moving average of $160.07 and a 200 day moving average of $175.41. Owens Corning has a 1-year low of $126.15 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm earned $3.21 earnings per share. As a group, research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a dividend of $0.69 per share. 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 (DPR) is currently 37.70%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OC. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday. They set a “buy” rating and a $183.00 price target on the stock. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. UBS Group reduced their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.42.

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.