Owens Corning (NYSE:OC) Shares Bought by Greenleaf Trust

Greenleaf Trust lifted its stake in shares of Owens Corning (NYSE:OC) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,839 shares of the construction company’s stock after purchasing an additional 141 shares during the quarter. Greenleaf Trust’s holdings in Owens Corning were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OC. Lecap Asset Management Ltd. bought a new stake in Owens Corning during the third quarter worth approximately $3,212,000. Sebold Capital Management Inc. acquired a new stake in shares of Owens Corning in the third quarter valued at $214,000. Precision Wealth Strategies LLC boosted its stake in Owens Corning by 6.4% during the third quarter. Precision Wealth Strategies LLC now owns 2,369 shares of the construction company’s stock valued at $418,000 after buying an additional 142 shares in the last quarter. Retirement Guys Formula LLC grew its holdings 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 acquiring an additional 58 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Owens Corning by 59.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 172,173 shares of the construction company’s stock worth $30,392,000 after acquiring an additional 64,260 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.9 %

Shares of NYSE:OC opened at $181.85 on Friday. The firm has a fifty day moving average of $172.47 and a two-hundred day moving average of $172.34. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 12-month low of $110.96 and a 12-month high of $191.44. The firm has a market capitalization of $15.76 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

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

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is presently 19.43%.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Barclays cut their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company upped their target price on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Evercore ISI lifted their price target on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $187.77.

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.