Prime Capital Investment Advisors LLC Buys 116 Shares of Owens Corning (NYSE:OC)

Prime Capital Investment Advisors LLC grew its stake in shares of Owens Corning (NYSE:OC) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,784 shares of the construction company’s stock after acquiring an additional 116 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Owens Corning were worth $315,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. ST Germain D J Co. Inc. raised its holdings in shares of 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 valued at $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC purchased a new position in Owens Corning during the second quarter valued at approximately $32,000. Tobam raised its stake in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Quarry LP lifted its holdings 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 buying an additional 144 shares during the period. Finally, Friedenthal Financial bought a new stake in Owens Corning during the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the subject of several recent research reports. UBS Group boosted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Finally, 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, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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 3,050 shares of Owens Corning 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 owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $193.99 on Friday. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock’s fifty day moving average price is $179.12 and its 200 day moving average price is $174.59. Owens Corning has a 1 year low of $128.79 and a 1 year high of $199.54.

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, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company earned $4.15 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts forecast that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

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.