Edmond DE Rothschild Holding S.A. Has $916,000 Stake in Owens Corning (NYSE:OC)

Edmond DE Rothschild Holding S.A. grew its holdings in shares of Owens Corning (NYSE:OC) by 44.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,381 shares of the construction company’s stock after acquiring an additional 1,650 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Owens Corning were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning in the 4th quarter valued at $34,000. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

OC has been the subject of a number of research reports. Barclays dropped their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. UBS Group lowered their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a report on Tuesday. They set a “buy” rating and a $183.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by corporate insiders.

Owens Corning Trading Up 0.8 %

Owens Corning stock opened at $144.03 on Wednesday. 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 fifty-two week low of $137.50 and a fifty-two week high of $214.53. The stock has a market cap of $12.32 billion, a P/E ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. The firm’s fifty day moving average price is $162.96 and its 200-day moving average price is $176.11.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $3.21 earnings per share. Equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. Owens Corning’s payout ratio is 37.70%.

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.