Canada Pension Plan Investment Board Acquires 38,600 Shares of Owens Corning (NYSE:OC)

Canada Pension Plan Investment Board boosted its position in Owens Corning (NYSE:OC - Free Report) by 989.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 42,500 shares of the construction company's stock after purchasing an additional 38,600 shares during the period. Canada Pension Plan Investment Board's holdings in Owens Corning were worth $7,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its holdings in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB grew its holdings 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 purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the fourth quarter worth $34,000. Institutional investors own 88.40% of the company's stock.

Wall Street Analysts Forecast Growth

OC has been the subject of several recent research reports. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective for the company. Royal Bank of Canada dropped their target price on Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Citigroup reduced their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $195.73.

Insider Buying and Selling

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

Owens Corning Price Performance

Owens Corning stock traded down $0.01 during mid-day trading on Friday, hitting $143.95. 871,331 shares of the company traded hands, compared to its average volume of 808,779. 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 has a one year low of $123.41 and a one year high of $214.53. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The stock has a fifty day moving average price of $144.56 and a 200-day moving average price of $170.86.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.88 billion. During the same period in the previous year, the business earned $3.21 earnings per share. The firm's quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were issued a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. 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.