Caprock Group LLC Acquires 708 Shares of Owens Corning (NYSE:OC)

Caprock Group LLC grew its holdings in Owens Corning (NYSE:OC) by 14.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,548 shares of the construction company’s stock after purchasing an additional 708 shares during the period. Caprock Group LLC’s holdings in Owens Corning were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OC. ST Germain D J Co. Inc. grew its stake in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Owens Corning in the second quarter valued at $32,000. Tobam increased its holdings in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares during the last quarter. Quarry LP raised its position in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Owens Corning in the second quarter valued at $48,000. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value 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. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OC. UBS Group boosted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $192.62.

Owens Corning Stock Up 1.8 %

Shares of NYSE OC opened at $197.58 on Friday. The stock has a 50-day moving average price of $182.02 and a two-hundred day moving average price of $175.22. Owens Corning has a 12 month low of $130.91 and a 12 month high of $199.54. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the company earned $4.15 earnings per share. As a group, analysts forecast that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.21%. Owens Corning’s payout ratio is 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.