Owens Corning (NYSE:OC) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its position in shares of Owens Corning (NYSE:OC) by 53.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,726 shares of the construction company’s stock after buying an additional 1,643 shares during the quarter. Penserra Capital Management LLC’s holdings in Owens Corning were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Owens Corning by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock valued at $12,422,000 after acquiring an additional 9,584 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Owens Corning during the 2nd quarter worth $3,598,000. Comerica Bank grew its holdings in shares of Owens Corning by 9.0% in the 1st quarter. Comerica Bank now owns 45,649 shares of the construction company’s stock worth $7,614,000 after acquiring an additional 3,769 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Owens Corning by 196.2% during the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after purchasing an additional 8,456 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OC shares. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Evercore ISI raised their target price 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Activity at Owens Corning

In other Owens Corning news, 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 transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Owens Corning Stock Performance

Shares of OC stock opened at $205.10 on Thursday. Owens Corning has a fifty-two week low of $131.67 and a fifty-two week high of $214.53. The stock’s 50-day moving average is $184.37 and its two-hundred day moving average is $175.86. 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 firm has a market cap of $17.59 billion, a P/E ratio of 17.46, a PEG ratio of 2.36 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for 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%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.15 earnings per share. Analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.17%. Owens Corning’s dividend payout ratio is currently 20.43%.

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.