Daiwa Securities Group Inc. Purchases 700 Shares of Owens Corning (NYSE:OC)

Daiwa Securities Group Inc. boosted its position in Owens Corning (NYSE:OC) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,586 shares of the construction company’s stock after acquiring an additional 700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Owens Corning were worth $2,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Alpha DNA Investment Management LLC grew its stake in shares of Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after buying an additional 2,544 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after buying an additional 1,643 shares during the last quarter. Pitcairn Co. bought a new position in shares of Owens Corning during the third quarter valued at about $252,000. Kingsview Wealth Management LLC grew its stake in shares of Owens Corning by 4.2% during the third quarter. Kingsview Wealth Management LLC now owns 52,520 shares of the construction company’s stock valued at $9,271,000 after buying an additional 2,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Owens Corning by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after buying an additional 2,870 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred 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 $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group raised 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. UBS Group raised their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price 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. Wells Fargo & Company raised their target price on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Performance

Shares of OC opened at $205.10 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $131.67 and a one year high of $214.53. The company has a 50-day simple moving average of $185.03 and a two-hundred day simple moving average of $176.07. The firm has a market capitalization of $17.59 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.04 billion. During the same period last year, the business earned $4.15 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. On average, analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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

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.