Y Intercept Hong Kong Ltd Has $256,000 Position in Owens Corning (NYSE:OC)

Y Intercept Hong Kong Ltd lowered its holdings in shares of Owens Corning (NYSE:OC) by 83.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,451 shares of the construction company’s stock after selling 7,083 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Owens Corning were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Hodges Capital Management Inc. raised its position in shares of Owens Corning by 1.7% during the third quarter. Hodges Capital Management Inc. now owns 52,391 shares of the construction company’s stock worth $9,248,000 after purchasing an additional 855 shares during the period. World Investment Advisors LLC acquired a new stake in Owens Corning in the 3rd quarter valued at approximately $23,002,000. XTX Topco Ltd raised its position in Owens Corning by 61.1% in the 3rd quarter. XTX Topco Ltd now owns 9,851 shares of the construction company’s stock valued at $1,739,000 after buying an additional 3,736 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Owens Corning in the 3rd quarter valued at approximately $862,000. Finally, National Bank of Canada FI raised its position in Owens Corning by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 25,130 shares of the construction company’s stock valued at $4,436,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent research reports. UBS Group lifted their target price on 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 Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. 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. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $195.00 to $225.00 in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $200.83.

Owens Corning Stock Performance

Shares of NYSE OC opened at $174.44 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock has a 50 day moving average of $191.28 and a 200-day moving average of $178.02. The company has a market capitalization of $14.96 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.14 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The business 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%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.15 EPS. As a group, equities research analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be paid a $0.69 dividend. The ex-dividend date is Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.58%. Owens Corning’s payout ratio is 23.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.