Oxford Asset Management LLP Invests $439,000 in Owens Corning (NYSE:OC)

Oxford Asset Management LLP bought a new stake in Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,580 shares of the construction company's stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its holdings in Owens Corning by 23.3% in the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after buying an additional 23,787 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Owens Corning during the 3rd quarter valued at about $23,002,000. Synovus Financial Corp purchased a new stake in shares of Owens Corning in the third quarter valued at about $337,000. Franklin Resources Inc. increased its position in Owens Corning by 5.3% during the third quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company's stock worth $83,381,000 after purchasing an additional 22,500 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock worth $34,717,000 after purchasing an additional 5,916 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OC has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Barclays cut their price objective on Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $195.73.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business's 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 transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by insiders.

Owens Corning Trading Up 0.3 %

NYSE:OC traded up $0.40 on Thursday, reaching $145.81. 466,871 shares of the company's stock were exchanged, compared to its average volume of 806,657. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average of $143.01 and a 200-day moving average of $170.25.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 EPS. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.89%. Owens Corning's 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.