Financial Counselors Inc. Buys New Shares in Owens Corning (NYSE:OC)

Financial Counselors Inc. purchased a new position in Owens Corning (NYSE:OC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,398 shares of the construction company’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OC. Pacer Advisors Inc. increased its position in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares during the period. Point72 Asset Management L.P. boosted its stake in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Owens Corning by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock valued at $128,379,000 after buying an additional 24,522 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Owens Corning by 6.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after buying an additional 43,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Owens Corning by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock worth $104,704,000 after acquiring an additional 2,870 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OC. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Owens Corning Trading Up 0.3 %

OC opened at $205.62 on Monday. Owens Corning has a 1-year low of $132.62 and a 1-year high of $214.53. The firm has a 50-day moving average price of $186.20 and a two-hundred day moving average price of $176.47. The stock has a market capitalization of $17.64 billion, a PE ratio of 17.50, a PEG ratio of 2.30 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.15 EPS. As a group, equities analysts anticipate that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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

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.