Bessemer Group Inc. Has $57,000 Position in Owens Corning (NYSE:OC)

Bessemer Group Inc. lifted its stake in shares of Owens Corning (NYSE:OC) by 45.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 339 shares of the construction company’s stock after buying an additional 106 shares during the quarter. Bessemer Group Inc.’s holdings in Owens Corning were worth $57,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OC. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning during the fourth quarter worth about $34,000. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday. Loop Capital dropped their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays dropped their price target on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.58.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $137.98 on Friday. The business has a fifty day simple moving average of $149.23 and a two-hundred day simple moving average of $172.49. The firm has a market capitalization of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data 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. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business earned $3.21 EPS. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were issued a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. Owens Corning’s dividend payout ratio is currently 37.70%.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the 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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade 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 this hyperlink. Insiders own 0.82% of the company’s stock.

Owens Corning 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.