Northwest & Ethical Investments L.P. Has $1.50 Million Stock Position in Owens Corning (NYSE:OC)

Northwest & Ethical Investments L.P. decreased its holdings in Owens Corning (NYSE:OC) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,493 shares of the construction company’s stock after selling 2,025 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Owens Corning were worth $1,499,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after purchasing an additional 20,971 shares during the last quarter. Alpha DNA Investment Management LLC lifted its stake in shares of Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 9,584 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Owens Corning during the 2nd quarter worth $3,598,000. Finally, Comerica Bank increased its holdings in Owens Corning by 9.0% in the 1st quarter. Comerica Bank now owns 45,649 shares of the construction company’s stock worth $7,614,000 after purchasing an additional 3,769 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” 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 report on Saturday, November 9th. 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 research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Up 0.5 %

Shares of Owens Corning stock opened at $206.03 on Friday. The stock’s 50-day moving average is $185.57 and its 200 day moving average is $176.27. Owens Corning has a one year low of $132.62 and a one year high of $214.53. The firm 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 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 announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.15 EPS. Equities research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Dividend Announcement

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

Insider Transactions 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 transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % 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. Insiders own 0.89% of the company’s stock.

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.