UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 24,522 Shares of Owens Corning (NYSE:OC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Owens Corning (NYSE:OC) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 727,275 shares of the construction company’s stock after buying an additional 24,522 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Owens Corning were worth $128,379,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after buying an additional 20,971 shares during the last quarter. Alpha DNA Investment Management LLC boosted its holdings in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Owens Corning by 14.8% in 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 acquiring an additional 9,584 shares during the period. Sanctuary Advisors LLC bought a new position in Owens Corning during the second quarter valued at approximately $3,598,000. Finally, Cetera Investment Advisers boosted its holdings in Owens Corning by 196.2% in the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after purchasing an additional 8,456 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Up 0.3 %

Owens Corning stock opened at $205.62 on Monday. Owens Corning has a 1 year low of $132.62 and a 1 year high of $214.53. The firm’s 50 day moving average price is $186.20 and its 200-day moving average price is $176.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market cap of $17.64 billion, a P/E ratio of 17.50, a PEG ratio of 2.30 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate 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 firm posted $4.15 EPS. On average, equities analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.17%. Owens Corning’s dividend payout ratio is currently 20.43%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OC shares. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a 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 increased their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Evercore ISI upped their target price 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. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on 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 transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

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.