XTX Topco Ltd Makes New Investment in Owens Corning (NYSE:OC)

XTX Topco Ltd bought a new position in shares of Owens Corning (NYSE:OC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,115 shares of the construction company’s stock, valued at approximately $1,062,000.

A number of other institutional investors have also made changes to their positions in OC. Norges Bank acquired a new position in shares of Owens Corning during the fourth quarter worth $118,251,000. Wells Fargo & Company MN lifted its position in shares of Owens Corning by 91.6% during the fourth quarter. Wells Fargo & Company MN now owns 45,256 shares of the construction company’s stock worth $6,708,000 after purchasing an additional 21,633 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Owens Corning by 43.4% during the fourth quarter. Corient Private Wealth LLC now owns 37,280 shares of the construction company’s stock worth $5,526,000 after purchasing an additional 11,275 shares in the last quarter. Assetmark Inc. lifted its position in shares of Owens Corning by 26,700.0% during the fourth quarter. Assetmark Inc. now owns 268 shares of the construction company’s stock worth $40,000 after purchasing an additional 267 shares in the last quarter. Finally, Team Hewins LLC acquired a new position in shares of Owens Corning during the fourth quarter worth $357,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OC. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. UBS Group upped their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Stock Down 2.2 %

Shares of NYSE:OC opened at $174.20 on Friday. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13. The company’s fifty day moving average is $167.63 and its two-hundred day moving average is $169.53. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.22 earnings per share. Equities analysts anticipate that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. 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.