Centiva Capital LP Raises Stock Holdings in Owens Corning (NYSE:OC)

Centiva Capital LP lifted its stake in shares of Owens Corning (NYSE:OC - Free Report) by 105.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,507 shares of the construction company's stock after acquiring an additional 8,467 shares during the quarter. Centiva Capital LP's holdings in Owens Corning were worth $2,811,000 at the end of the most recent reporting period.

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

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. 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 currently owned by corporate insiders.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $144.41 on Tuesday. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 12.29, a PEG 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 has a 52 week low of $123.41 and a 52 week high of $214.53. The stock's 50-day simple moving average is $142.26 and its 200-day simple moving average is $169.12.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS 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 analysts' expectations 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 period last year, the business posted $3.21 EPS. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $195.73.

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.

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