National Pension Service Boosts Stock Position in Owens Corning (NYSE:OC)

National Pension Service grew its holdings in Owens Corning (NYSE:OC) by 52.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,216 shares of the construction company’s stock after purchasing an additional 74,703 shares during the period. National Pension Service’s holdings in Owens Corning were worth $38,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after buying an additional 14,011 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Owens Corning in the first quarter valued at about $997,000. Twin Tree Management LP raised its holdings in shares of Owens Corning by 61.8% in the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after acquiring an additional 3,436 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in Owens Corning in the first quarter worth about $539,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the company’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 sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays cut their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. UBS Group upped their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their target price on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $187.77.

Owens Corning Trading Up 1.2 %

NYSE OC opened at $184.73 on Thursday. Owens Corning has a 12-month low of $120.17 and a 12-month high of $191.44. The company has a fifty day simple moving average of $174.60 and a two-hundred day simple moving average of $173.28. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The stock has a market cap of $16.06 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.22 EPS. On average, analysts forecast that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.30%. Owens Corning’s dividend payout ratio is currently 20.32%.

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.