Empower Advisory Group LLC Boosts Stock Position in Owens Corning (NYSE:OC)

Empower Advisory Group LLC lifted its holdings in shares of Owens Corning (NYSE:OC) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 506,882 shares of the construction company’s stock after purchasing an additional 5,757 shares during the period. Empower Advisory Group LLC owned about 0.58% of Owens Corning worth $89,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Retirement Guys Formula LLC raised its stake in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after buying an additional 58 shares during the period. PFG Investments LLC raised its stake in Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after acquiring an additional 68 shares during the period. Tobam lifted its holdings in Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. First Bank & Trust increased its stake in shares of Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

OC stock opened at $190.67 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.17 and a beta of 1.41. Owens Corning has a 12-month low of $123.10 and a 12-month high of $197.52. The firm’s 50-day moving average price is $176.94 and its two-hundred day moving average price is $174.09.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business posted $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. As a group, equities analysts predict that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is currently 20.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’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 value of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was 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 owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on OC. Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock 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. Finally, Wells Fargo & Company boosted 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 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

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.