Triodos Investment Management BV Buys 16,000 Shares of Owens Corning (NYSE:OC)

Triodos Investment Management BV lifted its position in shares of Owens Corning (NYSE:OC) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,000 shares of the construction company’s stock after purchasing an additional 16,000 shares during the period. Owens Corning accounts for about 1.9% of Triodos Investment Management BV’s holdings, making the stock its 25th biggest position. Triodos Investment Management BV owned approximately 0.16% of Owens Corning worth $23,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after acquiring an additional 187,001 shares during the period. Nordea Investment Management AB boosted its stake in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after acquiring an additional 238,694 shares during the last quarter. Norges Bank purchased a new stake in shares of Owens Corning during the 4th quarter worth approximately $208,519,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after purchasing an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Owens Corning by 113.9% during the third 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 during the period. 88.40% of the stock is owned by institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 sale, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Trading Down 0.3 %

NYSE OC opened at $147.25 on Friday. The stock has a 50-day moving average of $165.43 and a 200-day moving average of $176.25. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The firm has a market cap of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Analyst Ratings Changes

OC has been the subject of several recent research reports. Barclays decreased their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.