215 Shares in Owens Corning (NYSE:OC) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in Owens Corning (NYSE:OC) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 215 shares of the construction company’s stock, valued at approximately $38,000.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Owens Corning by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock valued at $12,422,000 after purchasing an additional 9,584 shares during the last quarter. Janus Henderson Group PLC grew its position in Owens Corning by 371.5% during the 1st quarter. Janus Henderson Group PLC now owns 35,355 shares of the construction company’s stock valued at $5,897,000 after purchasing an additional 27,856 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Owens Corning during the 1st quarter valued at about $305,000. Tidal Investments LLC grew its position in Owens Corning by 76.1% during the 1st quarter. Tidal Investments LLC now owns 12,044 shares of the construction company’s stock valued at $2,009,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Comerica Bank grew its position in Owens Corning by 9.0% during the 1st quarter. Comerica Bank now owns 45,649 shares of the construction company’s stock valued at $7,614,000 after purchasing an additional 3,769 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report 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 report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $192.62.

Owens Corning Price Performance

NYSE OC opened at $206.03 on Friday. Owens Corning has a 12 month low of $132.62 and a 12 month high of $214.53. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.29 and a beta of 1.41. The company’s 50 day moving average is $185.57 and its two-hundred day moving average is $176.27. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping 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 company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business earned $4.15 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. As a group, research analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.89% of the stock is owned by company 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.