Loomis Sayles & Co. L P Acquires 829 Shares of Owens Corning (NYSE:OC)

Loomis Sayles & Co. L P grew its holdings in Owens Corning (NYSE:OCFree Report) by 36.6% in the 3rd quarter, Holdings Channel reports. The fund owned 3,094 shares of the construction company’s stock after purchasing an additional 829 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Owens Corning were worth $546,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OC. Point72 Asset Management L.P. lifted its position in Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of 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. Panagora Asset Management Inc. boosted its position in shares of Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after buying an additional 365,853 shares during the period. Kimelman & Baird LLC bought a new position in shares of Owens Corning during the second quarter worth about $35,970,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Owens Corning by 54.1% during the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company’s stock worth $92,320,000 after buying an additional 183,666 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 1.4 %

OC stock opened at $205.10 on Friday. Owens Corning has a 1-year low of $131.67 and a 1-year high of $214.53. The business’s 50 day simple moving average is $185.03 and its 200 day simple moving average is $176.07. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $17.59 billion, a PE ratio of 17.46, a PEG ratio of 2.36 and a beta of 1.41.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate 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. As a group, research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.17%. Owens Corning’s dividend payout ratio is currently 20.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the 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 owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Get Our Latest Stock Report on OC

About Owens Corning

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCFree Report).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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