2,860 Shares in Owens Corning (NYSE:OC) Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp acquired a new stake in Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,860 shares of the construction company’s stock, valued at approximately $424,000.

A number of other hedge funds also recently bought and sold shares of OC. LSV Asset Management lifted its position in Owens Corning by 0.9% during the third quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock worth $307,800,000 after buying an additional 19,590 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after acquiring an additional 906,782 shares during the period. Northern Trust Corp raised its stake in Owens Corning by 4.9% during the third quarter. Northern Trust Corp now owns 1,014,106 shares of the construction company’s stock worth $138,334,000 after purchasing an additional 47,212 shares during the period. Pacer Advisors Inc. raised its position in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after buying an additional 819,201 shares during the period. Finally, Nordea Investment Management AB grew its position in Owens Corning by 15.1% in the fourth quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after acquiring an additional 94,185 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $168.55 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.61 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 6.97 and a beta of 1.47. Owens Corning has a 52-week low of $99.49 and a 52-week high of $173.65. The stock has a 50 day moving average price of $159.88 and a 200 day moving average price of $146.32.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $2.77 EPS. Research analysts predict that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Analyst Ratings Changes

A number of research firms have commented on OC. Argus lifted their target price on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group lifted their price target on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday. Loop Capital increased their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Evercore ISI upped their price target on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

Insiders Place Their Bets

In related news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Brian Chambers sold 9,100 shares of the business’s 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 sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,672 shares of company stock worth $3,325,799. 0.89% of the stock is owned by insiders.

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.