Owens Corning (NYSE:OC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Owens Corning (NYSE:OC) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 593,154 shares of the construction company’s stock after buying an additional 2,870 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Owens Corning were worth $104,704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. Retirement Guys Formula LLC raised its holdings in shares of Owens Corning by 3.1% in 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 raised its stake in Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the last quarter. Tobam raised its stake in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. First Bank & Trust lifted its position in Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after acquiring an additional 73 shares during the period. Finally, Bessemer Group Inc. grew its stake in Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $208.07 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $131.67 and a 12-month high of $214.53. The business’s 50 day moving average is $183.63 and its two-hundred day moving average is $175.64. The company has a market capitalization of $17.85 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.27 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (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 last year, the firm posted $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.15%. Owens Corning’s dividend payout ratio (DPR) is 20.43%.

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.