Owens Corning (NYSE:OC) Stock Holdings Raised by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its stake in shares of Owens Corning (NYSE:OC) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,616 shares of the construction company’s stock after buying an additional 83 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Owens Corning were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OC. Nordea Investment Management AB raised its position in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after buying an additional 365,853 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Owens Corning in the 1st quarter valued at about $60,424,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of NYSE OC opened at $189.60 on Monday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.44. The firm has a market cap of $16.49 billion, a P/E ratio of 16.05, a PEG ratio of 3.74 and a beta of 1.41. The stock has a fifty day moving average price of $170.05 and a two-hundred day moving average price of $171.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $4.22 earnings per share. Research analysts forecast that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OC shares. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. UBS Group boosted their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Wells Fargo & Company raised their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Evercore ISI boosted their price objective on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $187.77.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the 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 sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s 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 sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently 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.