HighTower Advisors LLC Has $2.35 Million Holdings in Owens Corning (NYSE:OC)

HighTower Advisors LLC trimmed its holdings in shares of Owens Corning (NYSE:OC) by 4.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,284 shares of the construction company’s stock after selling 632 shares during the quarter. HighTower Advisors LLC’s holdings in Owens Corning were worth $2,349,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Owens Corning by 13.0% during the second quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the construction company’s stock worth $263,000 after acquiring an additional 174 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Owens Corning by 133.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,327 shares of the construction company’s stock valued at $1,620,000 after purchasing an additional 5,325 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Owens Corning by 59.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 72,426 shares of the construction company’s stock worth $12,582,000 after purchasing an additional 26,986 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Owens Corning by 46.2% in the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after buying an additional 116 shares during the period. Finally, Williams Financial LLC bought a new stake in Owens Corning in the 2nd quarter valued at about $285,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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 $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on OC shares. UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a research report on Wednesday. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI lifted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.33.

Owens Corning Price Performance

Shares of NYSE OC opened at $191.41 on Friday. The company has a market capitalization of $16.42 billion, a PE ratio of 16.29, a PEG ratio of 2.22 and a beta of 1.42. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $191.33 and its 200-day moving average price is $177.95. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the firm earned $4.15 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

About Owens Corning

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.