PFG Investments LLC Increases Stake in Owens Corning (NYSE:OC)

PFG Investments LLC increased its position in Owens Corning (NYSE:OC) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,828 shares of the construction company’s stock after acquiring an additional 68 shares during the quarter. PFG Investments LLC’s holdings in Owens Corning were worth $323,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. boosted its stake in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. ORG Partners LLC bought a new position in Owens Corning in the 1st quarter worth about $31,000. Innealta Capital LLC bought a new position in Owens Corning in the 2nd quarter worth about $32,000. Tobam boosted its stake in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Finally, Quarry LP boosted its stake in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $181.58 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The business’s 50 day simple moving average is $173.69 and its two-hundred day simple moving average is $172.71. The stock has a market capitalization of $15.79 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41. Owens Corning has a one year low of $112.32 and a one year high of $191.44.

Owens Corning (NYSE:OC) last announced 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 business had revenue of $2.79 billion for 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 business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.22 EPS. Analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. Owens Corning’s dividend payout ratio (DPR) is currently 20.32%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on OC shares. UBS Group raised their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI lifted their price target on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $187.77.

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.