Mirova Makes New Investment in Owens Corning (NYSE:OC)

Mirova bought a new stake in shares of Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,803 shares of the construction company's stock, valued at approximately $648,000.

A number of other hedge funds have also recently made changes to their positions in OC. Norges Bank bought a new position in Owens Corning in the 4th quarter worth about $208,519,000. JPMorgan Chase & Co. grew its stake in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Owens Corning during the 4th quarter valued at $51,220,000. Nordea Investment Management AB raised its position in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation purchased a new stake in shares of Owens Corning in the 4th quarter worth $39,054,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

Shares of OC stock traded up $0.29 during trading hours on Friday, hitting $144.25. The company's stock had a trading volume of 443,875 shares, compared to its average volume of 805,766. The stock has a market cap of $12.34 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53. The company has a 50 day moving average of $145.23 and a 200 day moving average of $171.23. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The firm's revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on OC shares. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company lowered their price target on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barclays cut their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group lowered their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.58.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm'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 sale, the insider now directly owns 11,635 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company's stock.

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.