Price T Rowe Associates Inc. MD Increases Stock Holdings in Owens Corning (NYSE:OC)

Price T Rowe Associates Inc. MD raised its stake in shares of Owens Corning (NYSE:OC - Free Report) by 41.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,422,828 shares of the construction company's stock after buying an additional 414,770 shares during the period. Price T Rowe Associates Inc. MD owned about 1.66% of Owens Corning worth $242,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in shares of Owens Corning by 23.3% during the third quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after purchasing an additional 23,787 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Owens Corning during the third quarter valued at approximately $23,002,000. Synovus Financial Corp bought a new stake in Owens Corning during the 3rd quarter valued at about $337,000. Franklin Resources Inc. lifted its holdings in shares of Owens Corning by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company's stock worth $83,381,000 after buying an additional 22,500 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock valued at $34,717,000 after buying an additional 5,916 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Owens Corning stock traded up $0.61 during trading hours on Thursday, reaching $146.02. 130,459 shares of the stock were exchanged, compared to its average volume of 805,360. The stock has a market cap of $12.49 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.88 and a beta of 1.39. The firm's 50 day moving average is $143.01 and its 200 day moving average is $170.25. 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 52-week low of $123.41 and a 52-week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its 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 company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm earned $3.21 EPS. The business's revenue was up 23.3% on a year-over-year basis. Analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared 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. This represents a $2.76 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OC. JPMorgan Chase & Co. reduced their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Barclays dropped 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. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $195.73.

Insider Buying and Selling

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 transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company's stock.

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.