QRG Capital Management Inc. Purchases 1,724 Shares of Owens Corning (NYSE:OC)

QRG Capital Management Inc. increased its position in Owens Corning (NYSE:OC) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,791 shares of the construction company’s stock after buying an additional 1,724 shares during the period. QRG Capital Management Inc.’s holdings in Owens Corning were worth $3,317,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Owens Corning by 6.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after purchasing an additional 43,180 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Owens Corning by 2.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after purchasing an additional 12,707 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup upgraded 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. Royal Bank of Canada upped their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, 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 report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $187.77.

Owens Corning Trading Up 1.2 %

OC opened at $184.73 on Thursday. 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’s 50 day moving average price is $174.60 and its 200-day moving average price is $173.28. Owens Corning has a one year low of $120.17 and a one year high of $191.44. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

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.