Owens Corning (NYSE:OC) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in Owens Corning (NYSE:OC) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,554 shares of the construction company’s stock after acquiring an additional 112 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Owens Corning were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OC. Point72 Asset Management L.P. lifted its position in shares of 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 worth $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Pacer Advisors Inc. boosted its position in Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after buying an additional 446,073 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after acquiring an additional 365,853 shares in the last quarter. Swedbank AB acquired a new stake in shares of Owens Corning in the first quarter valued at $60,424,000. Finally, Kimelman & Baird LLC acquired a new position in Owens Corning during the 2nd quarter worth $35,970,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OC. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Trading Down 1.4 %

Shares of OC opened at $190.67 on Wednesday. Owens Corning has a twelve month low of $123.10 and a twelve month high of $197.52. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $16.36 billion, a P/E ratio of 16.23, a PEG ratio of 2.35 and a beta of 1.41. The firm’s 50-day moving average is $176.94 and its two-hundred day moving average is $174.09.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business posted $4.15 EPS. On average, research analysts predict that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is currently 20.43%.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

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.