CIBC Asset Management Inc Has $620,000 Stock Holdings in Owens Corning (NYSE:OC)

CIBC Asset Management Inc raised its position in shares of Owens Corning (NYSE:OC) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,513 shares of the construction company’s stock after purchasing an additional 162 shares during the period. CIBC Asset Management Inc’s holdings in Owens Corning were worth $620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after buying an additional 20,971 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Owens Corning by 22.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company’s stock worth $21,710,000 after acquiring an additional 23,593 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Owens Corning by 14.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after acquiring an additional 9,584 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Owens Corning during the 1st quarter valued at approximately $1,501,000. Finally, Sanctuary Advisors LLC acquired a new position in Owens Corning during the 2nd quarter worth approximately $3,598,000. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on OC. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Owens Corning Trading Up 0.1 %

NYSE OC opened at $194.27 on Thursday. The stock has a market capitalization of $16.67 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.18 and a beta of 1.41. The business has a 50 day simple moving average of $181.30 and a 200 day simple moving average of $175.06. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $129.24 and a one 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 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm posted $4.15 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. Owens Corning’s dividend payout ratio (DPR) 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.