21,390 Shares in Owens Corning (NYSE:OC) Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Owens Corning (NYSE:OC) in the first quarter, according to its most recent filing with the SEC. The firm bought 21,390 shares of the construction company’s stock, valued at approximately $3,568,000.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in Owens Corning during the 1st quarter worth approximately $26,000. Contravisory Investment Management Inc. purchased a new position in Owens Corning during the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning during the 4th quarter worth approximately $27,000. Riverview Trust Co purchased a new position in Owens Corning during the 1st quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC raised its position in Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after buying an additional 88 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of NYSE OC opened at $168.37 on Wednesday. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The firm has a fifty day moving average of $175.56 and a 200 day moving average of $162.00. The firm has a market cap of $14.59 billion, a PE ratio of 13.63, a PEG ratio of 5.17 and a beta of 1.42.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company posted $2.77 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that Owens Corning will post 15.48 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Analyst Upgrades and Downgrades

OC has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Loop Capital lifted their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Evercore ISI lifted their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Citigroup lifted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada lifted their target price on shares of Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the sale, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the transaction, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now directly owns 62,895 shares in the company, valued at approximately $11,195,310. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock valued at $3,437,315 in the last 90 days. 0.90% of the stock is owned by insiders.

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.