Atria Investments Inc Acquires 6,373 Shares of Owens Corning (NYSE:OC)

Atria Investments Inc boosted its holdings in shares of Owens Corning (NYSE:OC) by 93.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,200 shares of the construction company’s stock after purchasing an additional 6,373 shares during the quarter. Atria Investments Inc’s holdings in Owens Corning were worth $2,330,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after acquiring an additional 446,073 shares during the period. Point72 Asset Management L.P. lifted its position in shares of 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 worth $128,772,000 after acquiring an additional 464,981 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Owens Corning by 6.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after buying an additional 43,180 shares during the period. AustralianSuper Pty Ltd lifted its position 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 worth $102,665,000 after buying an additional 12,707 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after acquiring an additional 365,853 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $195.26 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $128.79 and a 12-month high of $199.54. The firm has a 50-day moving average price of $178.38 and a two-hundred day moving average price of $174.39. The company has a market capitalization of $16.75 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.14 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates 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%. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.15 earnings per share. Analysts anticipate that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.23%. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on OC shares. Wells Fargo & Company increased their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, UBS Group upped their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.62.

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.