Owens Corning Inc $OC Stake Increased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its stake in shares of Owens Corning Inc (NYSE:OC) by 284.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,213 shares of the construction company’s stock after buying an additional 6,816 shares during the period. Sterling Capital Management LLC’s holdings in Owens Corning were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OC. MBL Wealth LLC increased its holdings in Owens Corning by 163.1% in the 3rd quarter. MBL Wealth LLC now owns 4,209 shares of the construction company’s stock valued at $491,000 after acquiring an additional 2,609 shares during the last quarter. Compass Wealth Management LLC bought a new position in shares of Owens Corning during the 3rd quarter valued at about $47,000. Root Financial Partners LLC purchased a new position in shares of Owens Corning during the third quarter valued at about $412,000. Precedent Wealth Partners LLC grew its position in shares of Owens Corning by 17.7% during the third quarter. Precedent Wealth Partners LLC now owns 17,451 shares of the construction company’s stock valued at $2,037,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Owens Corning by 74.9% in the third quarter. Crossmark Global Holdings Inc. now owns 6,411 shares of the construction company’s stock worth $748,000 after purchasing an additional 2,745 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OC shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, September 21st. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Citigroup upped their price objective on Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, Royal Bank Of Canada lowered shares of Owens Corning from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $172.00 to $127.00 in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.57.

Owens Corning Price Performance

Shares of OC stock opened at $114.31 on Tuesday. The stock has a 50 day moving average price of $126.84 and a 200 day moving average price of $126.13. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The firm has a market capitalization of $9.04 billion, a P/E ratio of -14.18, a P/E/G ratio of 2.64 and a beta of 1.32.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $4.21 EPS. Owens Corning’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Owens Corning Inc will post 9.59 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning’s payout ratio is currently -39.21%.

Insider Activity at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 900 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the transaction, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Owens Corning Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.