Commerce Bank Buys 399 Shares of Owens Corning (NYSE:OC)

Commerce Bank grew its stake in shares of Owens Corning (NYSE:OC) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the construction company’s stock after acquiring an additional 399 shares during the quarter. Commerce Bank’s holdings in Owens Corning were worth $583,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. boosted its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Innealta Capital LLC bought a new stake in Owens Corning during the second quarter valued at approximately $32,000. Tobam increased its holdings in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Quarry LP increased its holdings in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Owens Corning in the second quarter worth approximately $48,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OC has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com raised 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, The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Up 4.0 %

OC stock opened at $210.91 on Tuesday. Owens Corning has a 52 week low of $131.67 and a 52 week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $183.63 and a 200-day simple moving average of $175.64. The stock has a market capitalization of $18.09 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.27 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.14%. Owens Corning’s payout ratio is currently 20.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value 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 trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

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.