First Citizens Bank & Trust Co. Makes New $216,000 Investment in Owens Corning (NYSE:OC)

First Citizens Bank & Trust Co. bought a new stake in Owens Corning (NYSE:OC) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,224 shares of the construction company’s stock, valued at approximately $216,000.

Other hedge funds have also recently modified their holdings of the company. Tobam boosted its holdings in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Bessemer Group Inc. boosted its stake in Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after purchasing an additional 78 shares during the period. MV Capital Management Inc. grew its position in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in Owens Corning by 1.5% in the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares during the period. Finally, Atlas Capital Advisors LLC raised its holdings in shares of Owens Corning by 2.5% in the second quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock valued at $783,000 after buying an additional 112 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Owens Corning Stock Down 1.8 %

OC opened at $186.23 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.74 and a beta of 1.41. Owens Corning has a one year low of $109.95 and a one year high of $191.44. The business’s fifty day moving average is $170.05 and its two-hundred day moving average is $171.93.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $4.22 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.29%. Owens Corning’s dividend payout ratio (DPR) is 20.32%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OC. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada boosted their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Evercore ISI increased their price target on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, UBS Group raised their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $187.77.

Owens Corning Company 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.