Massachusetts Financial Services Co. MA Has $838,000 Holdings in Owens Corning (NYSE:OC)

Massachusetts Financial Services Co. MA boosted its holdings in Owens Corning (NYSE:OC) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,749 shares of the construction company’s stock after buying an additional 743 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Owens Corning were worth $838,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OC. Quadrature Capital Ltd bought a new position in shares of Owens Corning in the 1st quarter worth $416,000. Price T Rowe Associates Inc. MD boosted its holdings in Owens Corning by 14.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after buying an additional 9,584 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Owens Corning by 371.5% during the 1st quarter. Janus Henderson Group PLC now owns 35,355 shares of the construction company’s stock worth $5,897,000 after buying an additional 27,856 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Owens Corning in the 1st quarter valued at about $305,000. Finally, Tidal Investments LLC raised its position in shares of Owens Corning by 76.1% in the 1st quarter. Tidal Investments LLC now owns 12,044 shares of the construction company’s stock valued at $2,009,000 after acquiring an additional 5,205 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 sale, the insider now directly owns 57,079 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $205.10 on Thursday. The stock has a market cap of $17.59 billion, a PE ratio of 17.46, a P/E/G ratio of 2.36 and a beta of 1.41. 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 firm has a 50-day moving average of $184.37 and a 200-day moving average of $175.86. Owens Corning has a 52-week low of $131.67 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.04 billion. During the same period last year, the business posted $4.15 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, sell-side 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. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.17%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analysts Set New Price Targets

Several brokerages have commented on OC. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note 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. UBS Group lifted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.62.

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.