Financial Counselors Inc. Makes New $247,000 Investment in Owens Corning (NYSE:OC)

Financial Counselors Inc. purchased a new position in shares of Owens Corning (NYSE:OC) during the third quarter, HoldingsChannel reports. The fund purchased 1,398 shares of the construction company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Owens Corning by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares during the period. Blueshift Asset Management LLC boosted its position in shares of Owens Corning by 41.4% during the third quarter. Blueshift Asset Management LLC now owns 6,262 shares of the construction company’s stock worth $1,105,000 after buying an additional 1,833 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Owens Corning by 3.7% during the third quarter. Glenmede Trust Co. NA now owns 92,934 shares of the construction company’s stock worth $16,405,000 after buying an additional 3,288 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its position in Owens Corning by 16.5% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 2,680 shares of the construction company’s stock valued at $473,000 after buying an additional 380 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in Owens Corning by 3.1% in the 3rd quarter. Avestar Capital LLC now owns 3,451 shares of the construction company’s stock valued at $609,000 after acquiring an additional 105 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OC. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.62.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents 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. Insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

OC opened at $205.62 on Monday. 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 12-month low of $132.62 and a 12-month high of $214.53. The business has a 50 day moving average of $186.20 and a 200-day moving average of $176.47. The stock has a market cap of $17.64 billion, a price-to-earnings 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 the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business 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 posted $4.15 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Dividend Announcement

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