Grantham Mayo Van Otterloo & Co. LLC Buys 12,800 Shares of Owens Corning (NYSE:OC)

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Owens Corning (NYSE:OCGet Rating) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,905 shares of the construction company’s stock after buying an additional 12,800 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.22% of Owens Corning worth $15,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OC. Signaturefd LLC boosted its position in Owens Corning by 36.1% during the first quarter. Signaturefd LLC now owns 1,006 shares of the construction company’s stock worth $92,000 after purchasing an additional 267 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Owens Corning during the first quarter worth about $37,000. FDx Advisors Inc. boosted its position in Owens Corning by 15.1% during the first quarter. FDx Advisors Inc. now owns 3,453 shares of the construction company’s stock worth $316,000 after purchasing an additional 452 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Owens Corning by 5.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 55,269 shares of the construction company’s stock worth $5,057,000 after purchasing an additional 2,943 shares during the period. Finally, abrdn plc boosted its position in Owens Corning by 33.5% during the first quarter. abrdn plc now owns 52,811 shares of the construction company’s stock worth $4,991,000 after purchasing an additional 13,251 shares during the period. Institutional investors own 93.64% of the company’s stock.

Owens Corning Trading Down 0.8 %

OC stock opened at $91.14 on Thursday. The company has a market capitalization of $8.52 billion, a PE ratio of 6.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45. Owens Corning has a one year low of $72.97 and a one year high of $101.12. The company’s 50 day moving average price is $84.59 and its two-hundred day moving average price is $85.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.77.

Owens Corning (NYSE:OCGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The construction company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.19 by $0.38. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.55 billion. Owens Corning had a net margin of 13.99% and a return on equity of 27.52%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $2.52 earnings per share. As a group, analysts predict that Owens Corning will post 12.67 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 3rd. Shareholders of record on Monday, October 17th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, October 14th. Owens Corning’s dividend payout ratio (DPR) is presently 10.30%.

Insiders Place Their Bets

In other Owens Corning news, CEO Brian Chambers sold 7,600 shares of Owens Corning stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $80.80, for a total transaction of $614,080.00. Following the transaction, the chief executive officer now directly owns 183,384 shares of the company’s stock, valued at $14,817,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brian Chambers sold 7,600 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $80.80, for a total value of $614,080.00. Following the transaction, the chief executive officer now owns 183,384 shares in the company, valued at $14,817,427.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Howard Morris sold 401 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $84.01, for a total transaction of $33,688.01. Following the completion of the transaction, the director now owns 39,719 shares in the company, valued at approximately $3,336,793.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,701 shares of company stock valued at $872,192. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OC shares. Credit Suisse Group cut their price objective on shares of Owens Corning from $98.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 27th. Wells Fargo & Company raised their price objective on shares of Owens Corning from $83.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Owens Corning from $103.00 to $99.00 and set a “hold” rating for the company in a research report on Thursday, October 20th. StockNews.com lowered shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 19th. Finally, Citigroup raised their price objective on shares of Owens Corning from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Hold” and an average target price of $101.79.

Owens Corning Company Profile

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Read More

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:OCGet Rating).

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

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.