Wealth Enhancement Advisory Services LLC Acquires 211 Shares of Owens Corning (NYSE:OC)

Wealth Enhancement Advisory Services LLC grew its holdings in Owens Corning (NYSE:OC) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,793 shares of the construction company’s stock after acquiring an additional 211 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Owens Corning were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OC. ST Germain D J Co. Inc. boosted its holdings in Owens Corning by 794.1% during 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. ORG Partners LLC bought a new position in shares of Owens Corning during the 1st quarter worth approximately $31,000. Innealta Capital LLC bought a new stake in Owens Corning in the second quarter valued at $32,000. Tobam raised its stake 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 acquiring an additional 103 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Barclays reduced their price objective 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. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Evercore ISI upped their price target on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $187.77.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’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 transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred 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 directly owns 57,079 shares of the company’s stock, valued at $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 corporate insiders.

Owens Corning Price Performance

NYSE OC opened at $179.40 on Tuesday. Owens Corning has a 12-month low of $120.17 and a 12-month high of $191.44. The firm’s 50 day moving average is $174.13 and its 200-day moving average is $172.99. The company has a market capitalization of $15.60 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping 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 analyst estimates of $2.92 billion. During the same period in the previous year, the business earned $4.22 EPS. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.34 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. Investors 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 1.34%. Owens Corning’s payout ratio is currently 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.