Loomis Sayles & Co. L P Has $546,000 Position in Owens Corning (NYSE:OC)

Loomis Sayles & Co. L P lifted its stake in Owens Corning (NYSE:OC) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,094 shares of the construction company’s stock after buying an additional 829 shares during the period. Loomis Sayles & Co. L P’s holdings in Owens Corning were worth $546,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OC. ST Germain D J Co. Inc. raised its stake in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new position in Owens Corning in the second quarter worth about $32,000. Tobam lifted its stake in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Quarry LP boosted 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 purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $48,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI upped their target price 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. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Down 1.4 %

NYSE OC opened at $205.10 on Friday. The stock has a market capitalization of $17.59 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. Owens Corning has a 52 week low of $131.67 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 fifty day moving average of $185.03 and a 200-day moving average of $176.07.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company earned $4.15 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors 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 annualized dividend and a yield of 1.17%. Owens Corning’s dividend payout ratio is currently 20.43%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 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.