Sebold Capital Management Inc. Takes $214,000 Position in Owens Corning (NYSE:OC)

Sebold Capital Management Inc. bought a new stake in shares of Owens Corning (NYSE:OC) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,214 shares of the construction company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OC. Pacer Advisors Inc. boosted its holdings in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Nordea Investment Management AB boosted its stake in Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares in the last quarter. Point72 Asset Management L.P. grew its position in Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after acquiring an additional 43,180 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Owens Corning by 2.2% during the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after acquiring an additional 12,707 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $182.87 on Wednesday. The business’s 50-day simple moving average is $170.67 and its 200 day simple moving average is $172.05. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 2.33 and a beta of 1.41. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.44.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm earned $4.22 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Announces Dividend

The firm 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 1.31%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group increased their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $187.77.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.