Pacer Advisors Inc. Grows Position in Owens Corning (NYSE:OC)

Pacer Advisors Inc. grew its holdings in Owens Corning (NYSE:OC) by 16.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,854,100 shares of the construction company’s stock after buying an additional 261,564 shares during the quarter. Pacer Advisors Inc.’s holdings in Owens Corning were worth $327,286,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. ST Germain D J Co. Inc. increased its position in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new position in Owens Corning in the 2nd quarter valued at $32,000. Tobam boosted its holdings in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Quarry LP boosted its holdings in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Owens Corning in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.1 %

OC stock opened at $194.27 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. Owens Corning has a 12 month low of $129.24 and a 12 month high of $199.54. The company has a fifty day moving average price of $181.30 and a 200 day moving average price of $175.06.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $4.15 earnings per share. Sell-side analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) 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.