Captrust Financial Advisors Buys 2,613 Shares of Owens Corning (NYSE:OC)

Captrust Financial Advisors lifted its stake in shares of Owens Corning (NYSE:OC) by 20.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,113 shares of the construction company’s stock after acquiring an additional 2,613 shares during the quarter. Captrust Financial Advisors’ holdings in Owens Corning were worth $2,668,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Financial Counselors Inc. bought a new stake in shares of Owens Corning during the 3rd quarter worth about $247,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Owens Corning by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares in the last quarter. Blueshift Asset Management LLC boosted its stake in shares of Owens Corning by 41.4% during the 3rd quarter. Blueshift Asset Management LLC now owns 6,262 shares of the construction company’s stock worth $1,105,000 after acquiring an additional 1,833 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Owens Corning by 3.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 92,934 shares of the construction company’s stock worth $16,405,000 after acquiring an additional 3,288 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. boosted its stake in shares of Owens Corning by 16.5% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 2,680 shares of the construction company’s stock worth $473,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research 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. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Down 1.5 %

Shares of OC opened at $200.16 on Friday. Owens Corning has a 1 year low of $138.26 and a 1 year high of $214.53. 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 50 day simple moving average of $188.00 and a 200-day simple moving average of $177.02. The stock has a market cap of $17.17 billion, a PE ratio of 17.03, a PEG ratio of 2.26 and a beta of 1.42.

Owens Corning (NYSE:OC) last issued its 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 business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $4.15 EPS. Owens Corning’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.38%. Owens Corning’s dividend payout ratio is 20.43%.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred 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 directly owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by corporate insiders.

Owens Corning 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.