Quest Partners LLC Has $1.58 Million Stake in Owens Corning (NYSE:OC)

Quest Partners LLC grew its stake in Owens Corning (NYSE:OC) by 67.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,940 shares of the construction company’s stock after buying an additional 3,608 shares during the period. Quest Partners LLC’s holdings in Owens Corning were worth $1,578,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Owens Corning in the 1st quarter valued at $997,000. CANADA LIFE ASSURANCE Co grew its stake in Owens Corning by 22.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company’s stock valued at $21,710,000 after buying an additional 23,593 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Owens Corning by 14.8% in the 1st 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 period. Finally, Zurich Insurance Group Ltd FI bought a new stake in Owens Corning during the first quarter valued at about $1,501,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction 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 sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This 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. 0.90% of the stock is currently owned by insiders.

Owens Corning Stock Up 0.7 %

Shares of OC opened at $195.27 on Tuesday. Owens Corning has a 12 month low of $129.24 and a 12 month high of $199.54. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.18 and a beta of 1.41. The company has a 50-day moving average price of $179.89 and a two-hundred day moving average price of $174.79. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $4.15 EPS. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. Equities analysts predict that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors 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 dividend yield of 1.23%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OC shares. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning 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.