Private Trust Co. NA Increases Stake in Owens Corning (NYSE:OC)

Private Trust Co. NA increased its holdings in Owens Corning (NYSE:OC) by 44.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 566 shares of the construction company’s stock after acquiring an additional 175 shares during the quarter. Private Trust Co. NA’s holdings in Owens Corning were worth $100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Truvestments Capital LLC boosted its stake in shares of Owens Corning by 9.7% during the third quarter. Truvestments Capital LLC now owns 4,543 shares of the construction company’s stock valued at $802,000 after purchasing an additional 400 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Owens Corning by 36.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,094 shares of the construction company’s stock valued at $546,000 after acquiring an additional 829 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Owens Corning by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 141,803 shares of the construction company’s stock valued at $25,031,000 after acquiring an additional 7,553 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Owens Corning by 5.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock worth $2,399,000 after acquiring an additional 700 shares in the last quarter. Finally, Alpha DNA Investment Management LLC lifted its stake in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after purchasing an additional 2,544 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

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 value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Stock Up 0.5 %

Shares of OC stock opened at $206.03 on Friday. Owens Corning has a fifty-two week low of $132.62 and a fifty-two week high of $214.53. The firm has a market capitalization of $17.67 billion, a PE ratio of 17.46, a P/E/G ratio of 2.29 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. The stock’s 50-day simple moving average is $185.57 and its 200-day simple moving average is $176.27.

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

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. Owens Corning’s dividend payout ratio is presently 20.43%.

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.