Candriam Luxembourg S.C.A. Grows Holdings in Owens Corning (NYSE:OC)

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Candriam Luxembourg S.C.A. raised its position in Owens Corning (NYSE:OC) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,813 shares of the construction company’s stock after purchasing an additional 15,421 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Owens Corning were worth $4,872,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OC. Squar Milner Financial Services LLC lifted its holdings in shares of Owens Corning by 172.6% during the 4th quarter. Squar Milner Financial Services LLC now owns 398 shares of the construction company’s stock worth $25,000 after acquiring an additional 252 shares during the period. Huntington National Bank lifted its holdings in shares of Owens Corning by 1,056.4% during the 4th quarter. Huntington National Bank now owns 451 shares of the construction company’s stock worth $29,000 after acquiring an additional 412 shares during the period. Covington Capital Management purchased a new position in shares of Owens Corning during the 3rd quarter worth about $52,000. Penserra Capital Management LLC lifted its holdings in shares of Owens Corning by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 980 shares of the construction company’s stock worth $61,000 after acquiring an additional 196 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Owens Corning by 103.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,052 shares of the construction company’s stock worth $65,000 after acquiring an additional 536 shares during the period. Institutional investors own 99.64% of the company’s stock.

Several brokerages have recently weighed in on OC. ValuEngine lowered shares of Owens Corning from a “sell” rating to a “strong sell” rating in a report on Thursday, October 24th. Citigroup began coverage on shares of Owens Corning in a report on Tuesday, December 17th. They set a “neutral” rating and a $71.00 price objective on the stock. SunTrust Banks increased their price objective on shares of Owens Corning from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Goldman Sachs Group began coverage on shares of Owens Corning in a report on Friday, December 6th. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Longbow Research increased their price objective on shares of Owens Corning from $66.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Owens Corning currently has an average rating of “Hold” and an average target price of $68.47.

In related news, insider Marcio A. Sandri sold 3,865 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $64.92, for a total transaction of $250,915.80. Following the completion of the sale, the insider now owns 38,850 shares of the company’s stock, valued at approximately $2,522,142. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

OC opened at $63.82 on Friday. The firm has a 50 day moving average price of $64.20 and a 200 day moving average price of $61.98. The company has a market cap of $6.94 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.33. Owens Corning has a 1 year low of $44.46 and a 1 year high of $68.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.69.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 5th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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