Northern Trust Corp Purchases 207,677 Shares of Owens Corning (NYSE:OC)

Northern Trust Corp increased its holdings in Owens Corning (NYSE:OC - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964,861 shares of the construction company's stock after acquiring an additional 207,677 shares during the quarter. Northern Trust Corp owned about 1.12% of Owens Corning worth $164,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the fourth quarter valued at $28,000. Venturi Wealth Management LLC boosted its holdings in 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 buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in Owens Corning in the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB increased its stake in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at about $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on OC shares. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Barclays reduced their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their target price 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price for the company. Finally, Loop Capital dropped 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.73.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.82% of the company's stock.

Owens Corning Trading Down 8.4 %

OC traded down $11.92 on Wednesday, hitting $130.71. The company had a trading volume of 1,148,096 shares, compared to its average volume of 813,528. The business's fifty day simple moving average is $142.08 and its 200 day simple moving average is $168.94. 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 12-month low of $123.41 and a 12-month high of $214.53. The company has a market cap of $11.18 billion, a PE ratio of 11.17, a PEG ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.03. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.40 earnings per share. Equities research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

About Owens Corning

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.