54,457 Shares in Owens Corning (NYSE:OC) Acquired by Crestline Management LP

Crestline Management LP bought a new position in Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 54,457 shares of the construction company's stock, valued at approximately $9,275,000. Crestline Management LP owned about 0.06% of Owens Corning at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the 4th quarter worth approximately $34,000. Institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

OC has been the subject of several research analyst reports. Loop Capital dropped their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.73.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated 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 $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.

Owens Corning Stock Performance

Owens Corning stock opened at $144.41 on Tuesday. The firm has a fifty day simple moving average of $142.26 and a two-hundred day simple moving average of $169.12. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a market capitalization of $12.35 billion, a PE ratio of 12.29, a P/E/G ratio of 1.88 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.21 EPS. Research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's dividend payout ratio is 37.70%.

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.

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