Owens Corning (NYSE:OC) Stake Raised by Jump Financial LLC

Jump Financial LLC increased its stake in shares of Owens Corning (NYSE:OC - Free Report) by 129.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,993 shares of the construction company's stock after purchasing an additional 8,458 shares during the quarter. Jump Financial LLC's holdings in Owens Corning were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC grew 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 valued at $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 valued at about $31,000. Wilmington Savings Fund Society FSB grew its holdings 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 valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Up 2.5 %

Shares of OC stock traded up $3.39 during trading hours on Wednesday, hitting $140.49. 204,237 shares of the company were exchanged, compared to its average volume of 970,873. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a one year low of $123.40 and a one year high of $214.53. The business's 50-day simple moving average is $146.77 and its two-hundred day simple moving average is $171.72. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping 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 business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter last year, the company posted $3.21 earnings per share. The company's quarterly revenue was up 23.3% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

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 dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.96%. Owens Corning's payout ratio is 37.70%.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company cut their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target for the company. Royal Bank of Canada lowered their price target on Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Barclays lowered their price target on Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $194.58.

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.