Marshall Wace LLP Boosts Holdings in Owens Corning (NYSE:OC)

Marshall Wace LLP boosted its position in Owens Corning (NYSE:OC - Free Report) by 143.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,156 shares of the construction company's stock after purchasing an additional 171,930 shares during the quarter. Marshall Wace LLP owned about 0.34% of Owens Corning worth $49,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Owens Corning during the fourth quarter worth about $208,519,000. JPMorgan Chase & Co. increased its position in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Owens Corning in the fourth quarter valued at approximately $51,220,000. Nordea Investment Management AB grew its stake in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after buying an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation bought a new position in shares of Owens Corning in the 4th quarter worth $39,054,000. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Royal Bank of Canada decreased their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.58.

Owens Corning Stock Up 1.6 %

Shares of NYSE:OC traded up $2.17 during midday trading on Wednesday, reaching $139.27. The company's stock had a trading volume of 224,923 shares, compared to its average volume of 806,832. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53. The firm has a market capitalization of $11.91 billion, a P/E ratio of 11.85, a PEG ratio of 1.88 and a beta of 1.39. The firm has a 50 day moving average of $146.77 and a 200-day moving average of $171.72. 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 announced 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 business had revenue of $2.84 billion during 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 business's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio is presently 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm'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 value of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

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.