Brooklyn Investment Group Acquires New Holdings in Owens Corning (NYSE:OC)

Brooklyn Investment Group acquired a new stake in shares of Owens Corning (NYSE:OC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 215 shares of the construction company’s stock, valued at approximately $38,000.

Several other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA grew its stake in Owens Corning by 44.8% during the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock valued at $100,000 after acquiring an additional 175 shares in the last quarter. Truvestments Capital LLC grew its stake in Owens Corning by 9.7% during the third quarter. Truvestments Capital LLC now owns 4,543 shares of the construction company’s stock valued at $802,000 after acquiring an additional 400 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Owens Corning by 36.6% during the third quarter. Loomis Sayles & Co. L P now owns 3,094 shares of the construction company’s stock valued at $546,000 after acquiring an additional 829 shares in the last quarter. Fisher Asset Management LLC grew its stake in Owens Corning by 5.6% during the third quarter. Fisher Asset Management LLC now owns 141,803 shares of the construction company’s stock valued at $25,031,000 after acquiring an additional 7,553 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Owens Corning by 5.4% during the third quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock valued at $2,399,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.5 %

Shares of OC opened at $206.03 on Friday. The stock has a market capitalization of $17.67 billion, a P/E ratio of 17.53, a PEG ratio of 2.29 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $185.57 and a two-hundred day simple moving average of $176.27. Owens Corning has a twelve month low of $132.62 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The business 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%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.15 EPS. On average, research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.16%. Owens Corning’s payout ratio is currently 20.43%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OC. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, UBS Group lifted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

About Owens Corning

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.