Freemont Management S.A. Invests $1.59 Million in Owens Corning (NYSE:OC)

Freemont Management S.A. bought a new position in shares of Owens Corning (NYSE:OC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,000 shares of the construction company’s stock, valued at approximately $1,589,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OC. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after acquiring an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Owens Corning by 6.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after acquiring an additional 43,180 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Owens Corning by 2.2% during the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock worth $102,665,000 after acquiring an additional 12,707 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Owens Corning by 54.1% during the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company’s stock valued at $92,320,000 after purchasing an additional 183,666 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OC shares. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on 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 sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 2.7 %

Shares of OC opened at $195.79 on Thursday. Owens Corning has a twelve month low of $127.64 and a twelve month high of $197.58. The stock has a market cap of $16.79 billion, a PE ratio of 16.66, a P/E/G ratio of 2.14 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $177.66 and its 200-day moving average price is $174.25.

Owens Corning (NYSE:OC) last posted its earnings results 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. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.15 EPS. On average, equities analysts forecast that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given 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 1.23%. Owens Corning’s dividend payout ratio (DPR) is presently 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.