Creative Planning Increases Position in Owens Corning (NYSE:OC)

Creative Planning boosted its holdings in shares of Owens Corning (NYSE:OC) by 16.4% during the 3rd quarter, Holdings Channel reports. The firm owned 9,789 shares of the construction company’s stock after buying an additional 1,379 shares during the period. Creative Planning’s holdings in Owens Corning were worth $1,728,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. MV Capital Management Inc. grew its holdings in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares during the last quarter. ORG Partners LLC bought a new position in shares of Owens Corning in the first quarter worth about $31,000. Innealta Capital LLC purchased a new position in shares of Owens Corning during the second quarter worth approximately $32,000. Finally, Tobam increased its holdings in Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 1.7 %

Shares of OC opened at $185.05 on Tuesday. The stock has a 50 day moving average price of $172.92 and a 200 day moving average price of $172.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 2.23 and a beta of 1.41. Owens Corning has a one year low of $111.57 and a one year high of $191.44.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.22 EPS. Equities research analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.30%. Owens Corning’s dividend payout ratio is currently 20.32%.

Analysts Set New Price Targets

OC has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI boosted their target price on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company raised their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.77.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.