B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Owens Corning (NYSE:OC)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Owens Corning (NYSE:OC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,441 shares of the construction company’s stock, valued at approximately $607,000.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise grew its position in shares of Owens Corning by 20.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,819 shares of the construction company’s stock worth $1,380,000 after buying an additional 1,314 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Owens Corning during the 3rd quarter worth $736,000. Caprock Group LLC raised its position in shares of Owens Corning by 14.6% during the 3rd quarter. Caprock Group LLC now owns 5,548 shares of the construction company’s stock valued at $979,000 after acquiring an additional 708 shares during the last quarter. Lindenwold Advisors INC lifted its stake in shares of Owens Corning by 3.2% in the 3rd quarter. Lindenwold Advisors INC now owns 3,168 shares of the construction company’s stock valued at $559,000 after purchasing an additional 97 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Owens Corning by 67.7% in the 3rd quarter. Quest Partners LLC now owns 8,940 shares of the construction company’s stock worth $1,578,000 after purchasing an additional 3,608 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Evercore ISI upped their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 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. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Stock Performance

NYSE:OC opened at $202.77 on Monday. The stock’s 50-day moving average is $182.76 and its 200-day moving average is $175.41. Owens Corning has a 1-year low of $131.61 and a 1-year high of $203.40. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.39 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.22 and a beta of 1.41.

Owens Corning (NYSE:OC) last released 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the company posted $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is 20.43%.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’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 transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

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.