Integrated Advisors Network LLC Takes $240,000 Position in Owens Corning (NYSE:OC)

Integrated Advisors Network LLC bought a new position in shares of Owens Corning (NYSE:OC) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,361 shares of the construction company’s stock, valued at approximately $240,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Owens Corning by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company’s stock valued at $1,106,000 after purchasing an additional 608 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Owens Corning by 9.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 160,899 shares of the construction company’s stock worth $26,838,000 after buying an additional 14,175 shares in the last quarter. Norden Group LLC bought a new stake in Owens Corning during the 1st quarter worth about $2,511,000. Diversify Advisory Services LLC bought a new stake in Owens Corning during the 1st quarter worth about $707,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Owens Corning in the 1st quarter valued at about $223,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Trading Up 2.0 %

NYSE:OC opened at $180.37 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The business’s 50-day simple moving average is $174.13 and its 200-day simple moving average is $172.85. Owens Corning has a fifty-two week low of $117.32 and a fifty-two week high of $191.44. The stock has a market capitalization of $15.68 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company earned $4.22 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.32%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % 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. In related news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on OC. Wells Fargo & Company increased their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada lifted their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays lowered their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $187.77.

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.