Owens Corning (NYSE:OC) Shares Bought by Blue Trust Inc.

Blue Trust Inc. lifted its position in Owens Corning (NYSE:OC) by 199.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,098 shares of the construction company’s stock after acquiring an additional 731 shares during the period. Blue Trust Inc.’s holdings in Owens Corning were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. MV Capital Management Inc. increased its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of Owens Corning by 794.1% during 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 during the last quarter. ORG Partners LLC acquired a new position in shares of Owens Corning in the 1st quarter valued at about $31,000. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the second quarter worth about $32,000. Finally, Tobam grew its holdings 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 acquiring an additional 103 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OC. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Evercore ISI lifted their price target on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.77.

Owens Corning Stock Down 0.8 %

NYSE OC opened at $181.90 on Friday. The business has a fifty day moving average price of $172.47 and a 200 day moving average price of $172.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $15.76 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.24 and a beta of 1.41. Owens Corning has a one year low of $110.96 and a one year high of $191.44.

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. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.22 earnings per share. Research analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

About Owens Corning

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.