Schonfeld Strategic Advisors LLC Invests $41.25 Million in Owens Corning (NYSE:OC)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 242,205 shares of the construction company’s stock, valued at approximately $41,252,000.

Several other institutional investors have also modified their holdings of OC. Stratos Wealth Partners LTD. lifted its position in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after acquiring an additional 53 shares during the last quarter. Greenleaf Trust lifted its position in Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after acquiring an additional 56 shares during the last quarter. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc lifted its position in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after acquiring an additional 62 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OC shares. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price target for the company. Royal Bank of Canada reduced their target price on shares of 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 reduced their target price on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $195.73.

Owens Corning Stock Down 0.0 %

OC opened at $144.02 on Tuesday. Owens Corning has a one year low of $123.41 and a one year high of $214.53. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.39. The business’s fifty day moving average is $143.95 and its two-hundred day moving average is $170.60. 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 (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts anticipate 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 issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.