4,882 Shares in Owens Corning (NYSE:OC) Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new stake in Owens Corning (NYSE:OC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,882 shares of the construction company’s stock, valued at approximately $862,000.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Owens Corning in the second quarter worth approximately $32,000. Tobam grew its position in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Brooklyn Investment Group bought a new stake in Owens Corning in the third quarter worth approximately $38,000. Quarry LP grew its position in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Owens Corning in the second quarter worth approximately $48,000. 88.40% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OC. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped 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. Wells Fargo & Company upped 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, The Goldman Sachs Group upped 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Price Performance

NYSE:OC opened at $201.91 on Friday. The stock has a market cap of $17.32 billion, a P/E ratio of 17.18, a PEG ratio of 2.27 and a beta of 1.42. Owens Corning has a one year low of $138.26 and a one year high of $214.53. The company has a fifty day moving average price of $189.08 and a 200 day moving average price of $177.36. 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 earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.15 EPS. Analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be paid a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio is presently 20.43%.

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.