Quantbot Technologies LP Grows Stake in Owens Corning (NYSE:OC)

Quantbot Technologies LP lifted its stake in shares of Owens Corning (NYSE:OC) by 8,734.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,184 shares of the construction company’s stock after purchasing an additional 6,114 shares during the period. Quantbot Technologies LP’s holdings in Owens Corning were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Stratos Wealth Partners LTD. increased its position in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after buying an additional 53 shares during the last quarter. Greenleaf Trust grew its stake in shares of Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after acquiring an additional 56 shares during the period. Retirement Guys Formula LLC increased its holdings in Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc raised its stake in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OC. JPMorgan Chase & Co. lowered 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 report on Tuesday, March 4th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays cut their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Wells Fargo & Company cut their target price on 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Price Performance

OC stock opened at $149.61 on Wednesday. The firm has a 50 day simple moving average of $166.70 and a two-hundred day simple moving average of $176.65. The stock has a market cap of $12.80 billion, a PE ratio of 12.73, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.84%. Owens Corning’s dividend payout ratio is 37.70%.

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.