GSA Capital Partners LLP Buys New Position in Owens Corning (OC)

GSA Capital Partners LLP purchased a new position in shares of Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,815 shares of the company’s stock, valued at approximately $351,000.

Several other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Owens Corning during the fourth quarter worth $86,565,000. Dana Investment Advisors Inc. increased its stake in Owens Corning by 4,470.3% in the third quarter. Dana Investment Advisors Inc. now owns 460,049 shares of the company’s stock worth $24,562,000 after buying an additional 449,983 shares during the last quarter. Renaissance Technologies LLC increased its stake in Owens Corning by 177.2% in the fourth quarter. Renaissance Technologies LLC now owns 681,300 shares of the company’s stock worth $35,128,000 after buying an additional 435,500 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Owens Corning by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,357,696 shares of the company’s stock worth $173,131,000 after buying an additional 424,127 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Owens Corning by 49.1% in the third quarter. Bank of Montreal Can now owns 977,742 shares of the company’s stock worth $52,202,000 after buying an additional 322,132 shares during the last quarter.

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

Owens Corning (NYSE:OC) opened at 61.24 on Monday. Owens Corning has a one year low of $45.46 and a one year high of $62.79. The stock’s 50 day moving average is $59.07 and its 200 day moving average is $54.08. The firm has a market capitalization of $6.88 billion, a P/E ratio of 17.96 and a beta of 1.09.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The company earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. Owens Corning had a net margin of 6.92% and a return on equity of 10.75%. Owens Corning’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, equities research analysts predict that Owens Corning will post $3.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, March 8th. Owens Corning’s dividend payout ratio (DPR) is presently 23.46%.

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OC has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Owens Corning from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Goldman Sachs Group Inc upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $61.00 to $69.00 in a research report on Friday, February 17th. MKM Partners restated a “sell” rating and set a $46.00 price objective (up from $45.00) on shares of Owens Corning in a research report on Friday, February 10th. Zelman & Associates upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Thursday, February 9th. Finally, Jefferies Group LLC restated a “buy” rating and set a $65.00 price objective (up from $60.00) on shares of Owens Corning in a research report on Thursday, February 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Hold” and an average price target of $58.41.

In related news, insider Brian Chambers sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $61.95, for a total value of $619,500.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $2,025,021.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ralph F. Hake sold 8,149 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $60.00, for a total transaction of $488,940.00. Following the completion of the transaction, the director now directly owns 44,546 shares of the company’s stock, valued at $2,672,760. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

5 Day Chart for NYSE:OC

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