Lifestyle Asset Management Inc. Buys 133 Shares of Owens Corning (NYSE:OC)

Lifestyle Asset Management Inc. raised its position in shares of Owens Corning (NYSE:OC) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,100 shares of the construction company’s stock after acquiring an additional 133 shares during the period. Owens Corning makes up about 0.7% of Lifestyle Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Lifestyle Asset Management Inc.’s holdings in Owens Corning were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OC. SG Americas Securities LLC lifted its stake in shares of Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after acquiring an additional 20,971 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Owens Corning during the first quarter valued at $997,000. Twin Tree Management LP grew its holdings in shares of Owens Corning by 61.8% in the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock worth $1,501,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Verus Capital Partners LLC purchased a new position in Owens Corning in the 1st quarter worth about $539,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OC. UBS Group upped their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $192.62.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Marcio A. Sandri sold 3,051 shares of the business’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 completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 1.5 %

NYSE:OC opened at $187.46 on Friday. The firm has a 50 day moving average of $175.40 and a 200 day moving average of $173.46. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 52 week low of $120.17 and a 52 week high of $191.44. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.20 and a beta of 1.41.

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 $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the firm earned $4.15 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

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.