Private Trust Co. NA Buys 175 Shares of Owens Corning (NYSE:OC)

Private Trust Co. NA lifted its stake in shares of Owens Corning (NYSE:OC) by 44.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 566 shares of the construction company’s stock after acquiring an additional 175 shares during the quarter. Private Trust Co. NA’s holdings in Owens Corning were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. ST Germain D J Co. Inc. lifted its position in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Innealta Capital LLC bought a new position in Owens Corning in the 2nd quarter worth approximately $32,000. Tobam grew its holdings in Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Quarry LP raised its position in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Owens Corning in the second quarter worth $48,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Up 0.5 %

Shares of OC opened at $206.03 on Friday. The company’s fifty day simple moving average is $185.57 and its 200-day simple moving average is $176.27. The company has a market cap of $17.67 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.29 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $132.62 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company 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 company posted $4.15 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, analysts expect that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is currently 20.43%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Seven investment 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 company presently has an average rating of “Moderate Buy” and an average target price of $192.62.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

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.