Geode Capital Management LLC Has $275.92 Million Stock Holdings in Owens Corning (NYSE:OC)

Geode Capital Management LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,566,407 shares of the construction company’s stock after selling 6,010 shares during the quarter. Geode Capital Management LLC owned approximately 1.83% of Owens Corning worth $275,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its position in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after purchasing an additional 187,001 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after buying an additional 261,564 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after buying an additional 197,667 shares during the period. Point72 Asset Management L.P. grew its stake 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 buying an additional 464,981 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $128,379,000 after acquiring an additional 24,522 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

NYSE:OC opened at $191.40 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a 50-day moving average of $191.33 and a 200-day moving average of $177.95. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.22 and a beta of 1.42.

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

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.44%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s dividend payout ratio is 23.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OC shares. The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

Owens Corning Company 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.