Assenagon Asset Management S.A. Has $2.68 Million Holdings in Owens Corning (NYSE:OC)

Assenagon Asset Management S.A. decreased its position in shares of Owens Corning (NYSE:OC - Free Report) by 83.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,055 shares of the construction company's stock after selling 90,406 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Owens Corning were worth $2,676,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Owens Corning by 4.0% during the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company's stock worth $595,000 after acquiring an additional 249 shares in the last quarter. HighTower Advisors LLC increased its stake in Owens Corning by 9.3% in the 1st quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company's stock valued at $238,000 after buying an additional 221 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Owens Corning by 24.9% in the 1st quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company's stock valued at $1,237,000 after acquiring an additional 2,693 shares in the last quarter. Bank of Montreal Can increased its position in shares of Owens Corning by 10.8% in the first quarter. Bank of Montreal Can now owns 19,987 shares of the construction company's stock valued at $1,888,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Owens Corning by 245.2% during the first quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company's stock valued at $333,000 after purchasing an additional 2,592 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Activity

In other news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Owens Corning news, insider Gunner Smith sold 657 shares of the business's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares of the company's stock, valued at approximately $5,764,342.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chambers sold 9,100 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 in the last quarter. 0.89% of the stock is owned by corporate insiders.

Owens Corning Trading Up 2.5 %

Shares of Owens Corning stock traded up $4.18 during midday trading on Wednesday, reaching $171.00. The company had a trading volume of 699,195 shares, compared to its average volume of 686,223. The firm has a market cap of $14.88 billion, a PE ratio of 13.03, a P/E/G ratio of 0.46 and a beta of 1.47. The stock has a fifty day moving average price of $154.67 and a 200 day moving average price of $142.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17. Owens Corning has a fifty-two week low of $91.51 and a fifty-two week high of $171.28.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.39. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. Owens Corning's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 earnings per share. On average, equities analysts anticipate that Owens Corning will post 14.08 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Monday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 1st. Owens Corning's dividend payout ratio (DPR) is 18.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group decreased their target price on shares of Owens Corning from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Barclays downgraded shares of Owens Corning from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Owens Corning from a "hold" rating to a "buy" rating and upped their price objective for the company from $130.00 to $180.00 in a research note on Friday, December 8th. Loop Capital boosted their target price on Owens Corning from $167.00 to $188.00 and gave the stock a "buy" rating in a report on Monday. Finally, Royal Bank of Canada cut their price target on Owens Corning from $183.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of "Moderate Buy" and an average target price of $159.64.

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.