1,361 Shares in Owens Corning (NYSE:OC) Bought by Integrated Advisors Network LLC

Integrated Advisors Network LLC bought a new stake in Owens Corning (NYSE:OC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,361 shares of the construction company’s stock, valued at approximately $240,000.

Other hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. raised its holdings in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. ORG Partners LLC bought a new position in shares of Owens Corning during the first quarter valued at $31,000. Innealta Capital LLC acquired a new position in shares of Owens Corning during the second quarter worth $32,000. Tobam lifted its holdings in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Finally, Quarry LP grew its stake in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Evercore ISI lifted their price objective on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group boosted their price target on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $187.77.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were 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 of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

Shares of NYSE OC opened at $180.37 on Friday. The stock’s 50-day moving average is $174.13 and its 200 day moving average is $172.85. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.23 and a beta of 1.41. Owens Corning has a 1-year low of $117.32 and a 1-year high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion for 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 revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $4.22 earnings per share. On average, sell-side analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.33%. Owens Corning’s dividend payout ratio is presently 20.32%.

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.