Owens Corning (NYSE:OC) Shares Purchased by Atom Investors LP

Atom Investors LP boosted its holdings in shares of Owens Corning (NYSE:OC) by 62.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,880 shares of the construction company’s stock after acquiring an additional 7,229 shares during the quarter. Atom Investors LP’s holdings in Owens Corning were worth $3,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after acquiring an additional 197,667 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after acquiring an additional 464,981 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Owens Corning by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Owens Corning by 6.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after purchasing an additional 43,180 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.3 %

NYSE:OC opened at $205.62 on Monday. The company has a market capitalization of $17.64 billion, a PE ratio of 17.50, a P/E/G ratio of 2.30 and a beta of 1.41. Owens Corning has a 52-week low of $132.62 and a 52-week high of $214.53. The stock’s 50 day moving average price is $186.20 and its 200 day moving average price is $176.47. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm 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%. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.15 EPS. On average, research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. Owens Corning’s payout ratio is 20.43%.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on OC. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price 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. Finally, UBS Group boosted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $192.62.

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.