Prime Capital Investment Advisors LLC increased its position in Owens Corning (NYSE:OC – Free Report) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,784 shares of the construction company’s stock after acquiring an additional 116 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Owens Corning were worth $315,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of OC. Retirement Guys Formula LLC increased its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after purchasing an additional 58 shares during the last quarter. PFG Investments LLC grew its position in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after buying an additional 68 shares during the period. Tobam grew its position in Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after buying an additional 73 shares during the period. First Bank & Trust increased its holdings in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after buying an additional 73 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on OC. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI increased 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. Finally, UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.
Owens Corning Stock Down 0.7 %
NYSE OC opened at $193.99 on Friday. The stock has a 50 day moving average price of $179.12 and a 200-day moving average price of $174.59. Owens Corning has a one year low of $128.79 and a one year high of $199.54. The company has a market capitalization of $16.64 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.
Owens Corning (NYSE:OC – Get Free Report) last issued 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. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted $4.15 EPS. As a group, equities analysts predict that Owens Corning will post 15.39 EPS for the current fiscal year.
Owens Corning Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.
Insider Transactions at Owens Corning
In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated 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 transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Owens Corning
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- ORIC: Working with Two Pharma Giants, Analysts See +100% Upside
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Freeport-McMoRan, Copper Demand Short-Term Pain, Long-Term Gain
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Time to Load Up on Home Builders?
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.