Owens Corning (NYSE:OC) Shares Acquired by Avestar Capital LLC

Avestar Capital LLC boosted its holdings in Owens Corning (NYSE:OC) by 3.1% during the third quarter, HoldingsChannel reports. The fund owned 3,451 shares of the construction company’s stock after buying an additional 105 shares during the period. Avestar Capital LLC’s holdings in Owens Corning were worth $609,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the period. Point72 Asset Management L.P. increased its holdings in Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Owens Corning by 6.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after purchasing an additional 43,180 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 worth $104,704,000 after buying an additional 2,870 shares during the period. Finally, AustralianSuper Pty Ltd grew its stake in shares of Owens Corning by 2.2% in the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after buying an additional 12,707 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OC has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Wells Fargo & Company lifted their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Trading Down 1.3 %

NYSE:OC opened at $208.07 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $131.67 and a 52-week high of $214.53. The stock’s 50 day moving average price is $183.63 and its 200 day moving average price is $175.64. The company has a market capitalization of $17.85 billion, a PE ratio of 17.71, a P/E/G ratio of 2.36 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $4.15 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. On average, research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

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.