First Bank & Trust Grows Position in Owens Corning (NYSE:OC)

First Bank & Trust raised its holdings in Owens Corning (NYSE:OC) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,658 shares of the construction company’s stock after acquiring an additional 73 shares during the period. First Bank & Trust’s holdings in Owens Corning were worth $646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. raised its holdings in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Owens Corning during the 1st quarter valued at about $31,000. Innealta Capital LLC purchased a new position in shares of Owens Corning during the 2nd quarter valued at about $32,000. Finally, Tobam raised its holdings in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Evercore ISI raised their price objective on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada raised their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.77.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred 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 $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 0.8 %

Shares of OC stock traded down $1.53 during trading hours on Friday, reaching $181.90. The company’s stock had a trading volume of 596,818 shares, compared to its average volume of 679,874. The stock has a market capitalization of $15.76 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.24 and a beta of 1.41. Owens Corning has a one year low of $110.96 and a one year high of $191.44. The firm’s fifty day simple moving average is $172.47 and its 200 day simple moving average is $172.34. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $4.22 EPS. Equities research analysts expect that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.32%. Owens Corning’s dividend payout ratio is currently 19.43%.

Owens Corning Company 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.