Vontobel Holding Ltd. Acquires 5,142 Shares of Owens Corning (NYSE:OC)

Vontobel Holding Ltd. increased its stake in Owens Corning (NYSE:OC) by 216.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,514 shares of the construction company’s stock after purchasing an additional 5,142 shares during the period. Vontobel Holding Ltd.’s holdings in Owens Corning were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares during the last quarter. Nordea Investment Management AB lifted its position in Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after buying an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after acquiring an additional 43,180 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in shares of Owens Corning by 2.2% during the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock worth $102,665,000 after acquiring an additional 12,707 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada raised their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Evercore ISI raised their price target on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $187.77.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were 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 of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was 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 approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Owens Corning Stock Up 1.5 %

Shares of Owens Corning stock opened at $189.60 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.44. The company has a market cap of $16.49 billion, a P/E ratio of 16.05, a PEG ratio of 3.74 and a beta of 1.41. The company’s fifty day simple moving average is $170.05 and its two-hundred day simple moving average is $171.93.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the company earned $4.22 earnings per share. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is presently 20.32%.

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.