Chesapeake Capital Corp IL Has $721,000 Stake in Owens Corning (NYSE:OC)

Chesapeake Capital Corp IL lifted its holdings in shares of Owens Corning (NYSE:OC) by 28.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,134 shares of the construction company’s stock after acquiring an additional 909 shares during the period. Chesapeake Capital Corp IL’s holdings in Owens Corning were worth $721,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in Owens Corning by 102.0% during the second 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 period. Ontario Teachers Pension Plan Board acquired a new position in Owens Corning during the first quarter valued at approximately $997,000. CANADA LIFE ASSURANCE Co grew its holdings in Owens Corning by 22.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company’s stock valued at $21,710,000 after purchasing an additional 23,593 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Owens Corning by 14.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock valued at $12,422,000 after purchasing an additional 9,584 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Owens Corning during the first quarter valued at approximately $1,501,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $193.99 on Friday. The company’s fifty day simple moving average is $179.12 and its 200-day simple moving average is $174.59. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $16.64 billion, a PE ratio of 16.51, a P/E/G ratio of 2.18 and a beta of 1.41. Owens Corning has a 12 month low of $128.79 and a 12 month high of $199.54.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm posted $4.15 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities research analysts expect that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared 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. This represents a $2.40 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OC shares. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Evercore ISI upped their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped 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. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Owens Corning currently 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.