Concurrent Investment Advisors LLC Has $390,000 Holdings in Owens Corning (NYSE:OC)

Concurrent Investment Advisors LLC lifted its position in shares of Owens Corning (NYSE:OC) by 16.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,207 shares of the construction company’s stock after buying an additional 314 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Owens Corning were worth $390,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Owens Corning by 6.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after purchasing an additional 43,180 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in Owens Corning by 2.2% in the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after purchasing an additional 12,707 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after purchasing an additional 365,853 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Up 1.6 %

Owens Corning stock opened at $190.44 on Monday. Owens Corning has a fifty-two week low of $121.08 and a fifty-two week high of $193.93. The stock has a market cap of $16.34 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. The firm’s 50-day simple moving average is $175.83 and its 200 day simple moving average is $173.74. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44.

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

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Analyst Ratings Changes

OC has been the subject of several research analyst reports. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.62.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s 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 sale, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’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 transaction of $538,501.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.