Owens Corning (NYSE:OC) Shares Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC raised its position in shares of Owens Corning (NYSE:OC) by 147.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,270 shares of the construction company’s stock after buying an additional 2,544 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Owens Corning were worth $754,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its position in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Innealta Capital LLC bought a new position in Owens Corning in the second quarter worth about $32,000. Tobam lifted its holdings in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Quarry LP boosted its stake in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Owens Corning during the second quarter valued at approximately $48,000. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OC shares. Evercore ISI raised their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target 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. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $202.77 on Friday. Owens Corning has a 12 month low of $131.61 and a 12 month high of $203.40. The firm has a market capitalization of $17.39 billion, a PE ratio of 17.26, a P/E/G ratio of 2.22 and a beta of 1.41. The company’s 50 day simple moving average is $182.76 and its 200 day simple moving average is $175.40. 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 posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.15 EPS. As a group, equities research analysts forecast that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.18%. 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.