Maj Invest Holding A S bought a new position in shares of Owens Corning (NYSE:OC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,600 shares of the construction company’s stock, valued at approximately $101,000. Owens Corning makes up 0.0% of Maj Invest Holding A S’s portfolio, making the stock its 19th largest position.
Several other large investors also recently bought and sold shares of OC. Quantamental Technologies LLC purchased a new stake in shares of Owens Corning in the second quarter worth $33,000. Private Capital Group LLC raised its position in shares of Owens Corning by 95.8% in the second quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock worth $50,000 after buying an additional 388 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Owens Corning by 103.9% in the third quarter. Quadrant Capital Group LLC now owns 1,052 shares of the construction company’s stock worth $65,000 after buying an additional 536 shares in the last quarter. MUFG Americas Holdings Corp purchased a new stake in shares of Owens Corning in the second quarter worth $76,000. Finally, NEXT Financial Group Inc raised its position in shares of Owens Corning by 105.1% in the second quarter. NEXT Financial Group Inc now owns 1,641 shares of the construction company’s stock worth $96,000 after buying an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.
Shares of NYSE:OC traded up $1.22 on Tuesday, reaching $64.52. 1,523,300 shares of the company traded hands, compared to its average volume of 1,632,941. The business’s 50-day simple moving average is $62.00 and its 200 day simple moving average is $56.06. Owens Corning has a 52 week low of $40.64 and a 52 week high of $65.22. The stock has a market capitalization of $6.81 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The company has a current ratio of 1.69, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.13. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 4.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Tuesday, October 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. Owens Corning’s payout ratio is presently 17.81%.
A number of equities research analysts recently issued reports on OC shares. Barclays increased their price objective on Owens Corning from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. ValuEngine downgraded Owens Corning from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 24th. SunTrust Banks increased their price objective on Owens Corning from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Buckingham Research upgraded Owens Corning from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Argus upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Owens Corning presently has a consensus rating of “Hold” and a consensus target price of $59.68.
In related news, VP Kelly Schmidt sold 1,589 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.53, for a total value of $96,182.17. Following the sale, the vice president now directly owns 15,264 shares of the company’s stock, valued at $923,929.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael H. Thaman sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $62.00, for a total value of $3,100,000.00. Following the completion of the sale, the chairman now directly owns 777,513 shares in the company, valued at $48,205,806. The disclosure for this sale can be found here. Insiders sold 87,589 shares of company stock worth $5,240,682 over the last three months. 1.70% of the stock is owned by insiders.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
Further Reading: Why investors pay attention to retained earnings
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