Owens Corning (NYSE:OC) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in shares of Owens Corning (NYSE:OC) by 0.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,776 shares of the construction company’s stock after purchasing an additional 200 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Owens Corning were worth $7,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in Owens Corning by 13.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the construction company’s stock valued at $263,000 after purchasing an additional 174 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Owens Corning by 133.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,327 shares of the construction company’s stock valued at $1,620,000 after buying an additional 5,325 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Owens Corning by 59.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 72,426 shares of the construction company’s stock worth $12,582,000 after buying an additional 26,986 shares during the period. Blue Trust Inc. raised its position in Owens Corning by 46.2% during the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock worth $61,000 after buying an additional 116 shares during the last quarter. Finally, Williams Financial LLC acquired a new stake in Owens Corning during the 2nd quarter valued at approximately $285,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 2.1 %

Shares of NYSE:OC opened at $194.37 on Friday. The business’s 50 day moving average price is $190.94 and its 200-day moving average price is $177.88. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion for 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 revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $4.15 earnings per share. On average, equities research analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be paid a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

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.