Symmetry Investments LP Acquires Shares of 2,135 Owens Corning (NYSE:OC)

Symmetry Investments LP acquired a new position in shares of Owens Corning (NYSE:OC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,135 shares of the construction company’s stock, valued at approximately $371,000.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. raised its stake in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. NBC Securities Inc. purchased a new stake in Owens Corning during the first quarter worth approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Riverview Trust Co purchased a new position in Owens Corning in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning during the first quarter worth approximately $31,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Owens Corning stock opened at $174.20 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The business has a 50 day simple moving average of $167.63 and a 200-day simple moving average of $169.53. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The stock has a market capitalization of $15.10 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.22 EPS. Equities analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is presently 19.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. Barclays lowered their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Loop Capital upped their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and boosted their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Evercore ISI dropped their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

About Owens Corning

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.