Kestra Investment Management LLC Buys 782 Shares of Owens Corning (NYSE:OC)

Kestra Investment Management LLC lifted its stake in Owens Corning (NYSE:OC) by 41.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,672 shares of the construction company’s stock after acquiring an additional 782 shares during the period. Kestra Investment Management LLC’s holdings in Owens Corning were worth $472,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ST Germain D J Co. Inc. increased its position in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new position in Owens Corning during the 2nd quarter valued at about $32,000. Tobam increased its position 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. Brooklyn Investment Group acquired a new position in Owens Corning during the 3rd quarter valued at about $38,000. Finally, Quarry LP increased its position in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after buying an additional 144 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the 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 sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $205.62 on Monday. The company has a market capitalization of $17.64 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.30 and a beta of 1.41. The business’s 50 day moving average is $186.20 and its two-hundred day moving average is $176.47. 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 12-month low of $132.62 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business posted $4.15 earnings per share. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued 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 dividend yield of 1.17%. Owens Corning’s payout ratio is currently 20.43%.

Analyst Upgrades and Downgrades

OC has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price 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 note on Saturday, November 9th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” 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’s stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average 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.