Cozad Asset Management Inc. Has $11.13 Million Stake in Owens Corning (NYSE:OC)

Cozad Asset Management Inc. raised its holdings in Owens Corning (NYSE:OC) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,077 shares of the construction company’s stock after acquiring an additional 6,147 shares during the quarter. Owens Corning comprises 1.1% of Cozad Asset Management Inc.’s portfolio, making the stock its 24th largest position. Cozad Asset Management Inc.’s holdings in Owens Corning were worth $11,134,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OC. Retirement Guys Formula LLC grew its holdings in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the period. Tobam increased its holdings in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. First Bank & Trust increased its holdings in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after acquiring an additional 73 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OC. Royal Bank of Canada upped their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays reduced their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Evercore ISI upped their price target on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $187.77.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s 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 transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s 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 transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction 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 completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Owens Corning Trading Up 1.2 %

NYSE OC opened at $184.73 on Thursday. Owens Corning has a 12 month low of $120.17 and a 12 month high of $191.44. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $16.06 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The business’s 50-day moving average price is $174.98 and its two-hundred day moving average price is $173.36.

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

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is 20.32%.

About Owens Corning

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.