Virtu Financial LLC Invests $742,000 in Owens Corning (NYSE:OC)

Virtu Financial LLC purchased a new stake in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,359 shares of the construction company’s stock, valued at approximately $742,000.

Several other institutional investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Owens Corning in the third quarter valued at about $607,000. Commerce Bank raised its stake in shares of Owens Corning by 13.8% in the third quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock worth $583,000 after acquiring an additional 399 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Owens Corning by 18.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company’s stock worth $838,000 after purchasing an additional 743 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Owens Corning by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after purchasing an additional 2,870 shares during the last quarter. Finally, Pitcairn Co. acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $252,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $151.21 on Tuesday. The stock’s fifty day simple moving average is $167.19 and its 200 day simple moving average is $176.71. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $12.93 billion, a PE ratio of 12.87, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $3.21 earnings per share. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OC. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. UBS Group dropped their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Barclays reduced their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup dropped their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Company Profile

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.