Owens Corning (NYSE:OC) Holdings Boosted by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in Owens Corning (NYSE:OC) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 17,903 shares of the construction company’s stock after purchasing an additional 339 shares during the period. Natixis Advisors LLC’s holdings in Owens Corning were worth $3,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. ST Germain D J Co. Inc. increased its stake in shares of 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 worth $26,000 after acquiring an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Owens Corning during the 2nd quarter valued at about $32,000. Tobam grew its stake in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Quarry LP increased its holdings in 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 buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Owens Corning during the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OC. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased 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 report on Thursday, November 7th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Price Performance

NYSE:OC opened at $202.77 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market cap of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.41. The company has a fifty day moving average price of $182.76 and a 200 day moving average price of $175.40. Owens Corning has a one year low of $131.61 and a one year high of $203.40.

Owens Corning (NYSE:OC) last released its earnings results 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. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company earned $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Analysts anticipate that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Activity

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 directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by company 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.