MBB Public Markets I LLC Takes Position in Owens Corning (NYSE:OC)

MBB Public Markets I LLC acquired a new stake in shares of Owens Corning (NYSE:OC) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 6,600 shares of the construction company’s stock, valued at approximately $1,147,000.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. increased its position in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after acquiring an additional 365,853 shares during the period. Finally, Swedbank AB bought a new position in shares of Owens Corning in the 1st quarter worth approximately $60,424,000. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the 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 owns 60,130 shares in the company, valued at $10,222,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Loop Capital upped their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Evercore ISI reduced their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

Owens Corning Trading Up 1.1 %

Shares of OC stock opened at $176.30 on Tuesday. The company has a market cap of $15.28 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $167.42 and its two-hundred day simple moving average is $170.34. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

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.