Janus Henderson Group PLC Has $1.19 Million Stake in Owens Corning (NYSE:OC)

Janus Henderson Group PLC boosted its stake in shares of Owens Corning (NYSE:OC) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,744 shares of the construction company’s stock after buying an additional 200 shares during the quarter. Janus Henderson Group PLC’s holdings in Owens Corning were worth $1,189,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Retirement Guys Formula LLC raised its stake in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the period. Tobam boosted its position in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust boosted its position in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, KMG Fiduciary Partners LLC grew its stake in Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after purchasing an additional 80 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OC. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.33.

Owens Corning Stock Performance

Shares of OC opened at $191.41 on Friday. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a 50 day moving average price of $191.33 and a two-hundred day moving average price of $177.95. The firm has a market capitalization of $16.42 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.22 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $4.15 earnings per share. Equities analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.