Owens Corning (NYSE:OC) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Owens Corning (NYSE:OC) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,375 shares of the construction company’s stock after buying an additional 835 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of Owens Corning worth $8,892,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. increased its stake in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Owens Corning by 38.9% during the 2nd 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 period. Panagora Asset Management Inc. increased its position in Owens Corning by 2,813.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Swedbank AB acquired a new position in Owens Corning during the first quarter valued at approximately $60,424,000. Finally, Kimelman & Baird LLC purchased a new stake in Owens Corning during the second quarter worth approximately $35,970,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OC shares. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, UBS Group upped their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $192.62.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly 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 can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Owens Corning Stock Up 1.5 %

OC stock opened at $187.46 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. The firm has a 50 day simple moving average of $175.40 and a 200-day simple moving average of $173.46. The company has a market capitalization of $16.30 billion, a P/E ratio of 15.87, a PEG ratio of 2.20 and a beta of 1.41. Owens Corning has a twelve month low of $120.17 and a twelve month high of $191.44.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.37. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the business earned $4.15 EPS. On average, equities research analysts predict that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is currently 20.32%.

Owens Corning Company 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.