Aptus Capital Advisors LLC Purchases 5,844 Shares of Owens Corning (NYSE:OC)

Aptus Capital Advisors LLC lifted its stake in Owens Corning (NYSE:OC) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,547 shares of the construction company’s stock after buying an additional 5,844 shares during the period. Aptus Capital Advisors LLC owned about 0.06% of Owens Corning worth $9,452,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OC. Point72 Asset Management L.P. raised 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 worth $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Pacer Advisors Inc. raised its position in Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Panagora Asset Management Inc. raised its position in Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Swedbank AB acquired a new position in Owens Corning in the first quarter worth about $60,424,000. Finally, Kimelman & Baird LLC acquired a new position in Owens Corning in the second quarter worth about $35,970,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.4 %

Owens Corning stock opened at $190.67 on Wednesday. The firm has a market capitalization of $16.36 billion, a PE ratio of 16.23, a P/E/G ratio of 2.17 and a beta of 1.41. The company’s 50-day moving average is $176.94 and its 200-day moving average is $174.09. Owens Corning has a fifty-two week low of $123.10 and a fifty-two week high of $197.52. 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 (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.15 EPS. Sell-side analysts anticipate that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company raised their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by 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.