Headlands Technologies LLC Acquires Shares of 13,795 Owens Corning (NYSE:OC)

Headlands Technologies LLC bought a new position in Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 13,795 shares of the construction company’s stock, valued at approximately $2,350,000.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Owens Corning by 48.9% during the fourth 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 during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Owens Corning by 44.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,381 shares of the construction company’s stock worth $916,000 after purchasing an additional 1,650 shares during the period. Allianz SE bought a new position in Owens Corning during the 4th quarter valued at about $281,000. Allstate Corp purchased a new stake in Owens Corning in the 4th quarter worth about $425,000. Finally, denkapparat Operations GmbH bought a new stake in Owens Corning in the fourth quarter worth about $220,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Owens Corning Trading Up 0.1 %

NYSE:OC opened at $142.81 on Tuesday. The firm has a 50-day simple moving average of $163.83 and a 200-day simple moving average of $176.26. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The firm has a market cap of $12.22 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 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 quarter in the previous year, the firm posted $3.21 earnings per share. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. Owens Corning’s payout ratio is 37.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OC shares. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Finally, UBS Group reduced their price target 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. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

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.