Owens Corning (NYSE:OC) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its holdings in shares of Owens Corning (NYSE:OC) by 0.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146,923 shares of the construction company’s stock after purchasing an additional 76 shares during the quarter. Jupiter Asset Management Ltd. owned 0.17% of Owens Corning worth $24,507,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of OC. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after buying an additional 819,201 shares during the last quarter. Norges Bank purchased a new position in shares of Owens Corning during the 4th quarter valued at approximately $118,251,000. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Owens Corning by 9,571.1% during the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after buying an additional 142,131 shares during the last quarter. Finally, Cincinnati Insurance Co. bought a new position in Owens Corning during the first quarter worth $21,684,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC traded down $1.61 during trading hours on Friday, reaching $172.78. 362,489 shares of the company’s stock traded hands, compared to its average volume of 735,978. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 5.16 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. Owens Corning has a twelve month low of $109.95 and a twelve month high of $184.00. The business’s fifty day simple moving average is $175.46 and its two-hundred day simple moving average is $164.00.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $2.77 earnings per share. Analysts predict that Owens Corning will post 15.44 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the transaction, the insider now directly owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the transaction, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,360 shares of company stock valued at $3,437,315. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OC shares. Barclays reduced their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. UBS Group raised their price objective on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Evercore ISI raised their price objective on Owens Corning from $172.00 to $188.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Jefferies Financial Group started coverage on Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. Finally, Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $183.92.

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.