Owens Corning (NYSE:OC) Position Increased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its stake in Owens Corning (NYSE:OC - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,054 shares of the construction company's stock after acquiring an additional 7,854 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.18% of Owens Corning worth $26,931,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in Owens Corning by 23.3% during the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after acquiring an additional 23,787 shares during the last quarter. World Investment Advisors LLC purchased a new position in Owens Corning during the 3rd quarter worth $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. lifted its position in Owens Corning by 5.3% in the third quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company's stock valued at $83,381,000 after purchasing an additional 22,500 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock valued at $34,717,000 after buying an additional 5,916 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Trading Up 0.6 %

Shares of OC traded up $0.86 during trading hours on Friday, hitting $144.82. The stock had a trading volume of 339,033 shares, compared to its average volume of 805,310. The company's fifty day simple moving average is $145.23 and its 200 day simple moving average is $171.23. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $12.39 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.88 and a beta of 1.39.

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

Owens Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on OC shares. Barclays reduced their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target for the company. Finally, Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average target price of $194.58.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.82% of the company's stock.

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.