APG Asset Management N.V. purchased a new position in Owens Corning Inc (NYSE:OC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,400 shares of the construction company’s stock, valued at approximately $7,379,000. APG Asset Management N.V. owned 0.09% of Owens Corning as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Owens Corning by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Owens Corning by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock worth $245,337,000 after acquiring an additional 27,809 shares in the last quarter. State Street Corp grew its position in Owens Corning by 0.4% in the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock worth $141,507,000 after acquiring an additional 8,490 shares in the last quarter. LSV Asset Management grew its position in Owens Corning by 21.2% in the second quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after acquiring an additional 294,400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Owens Corning by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,401,027 shares of the construction company’s stock worth $93,757,000 after acquiring an additional 17,494 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.
Owens Corning Inc (NYSE:OC) traded down $0.57 during trading hours on Monday, hitting $81.89. 663,400 shares of the stock were exchanged, compared to its average volume of 1,006,326. Owens Corning Inc has a 1 year low of $49.80 and a 1 year high of $83.31. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $9,109.53, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Owens Corning Inc will post 4.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Monday, October 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, October 13th. Owens Corning’s dividend payout ratio is currently 23.88%.
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Several research firms have issued reports on OC. Nomura upped their price target on shares of Owens Corning from $79.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and set a $83.00 target price on shares of Owens Corning in a report on Thursday, October 26th. SunTrust Banks, Inc. increased their target price on shares of Owens Corning from $66.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Barclays PLC set a $75.00 target price on shares of Owens Corning and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada increased their target price on shares of Owens Corning from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $76.95.
In related news, VP Kelly Schmidt sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daniel T. Smith sold 41,425 shares of Owens Corning stock in a transaction on Monday, August 28th. The stock was sold at an average price of $70.89, for a total transaction of $2,936,618.25. Following the transaction, the vice president now owns 60,708 shares in the company, valued at approximately $4,303,590.12. The disclosure for this sale can be found here. Insiders sold 196,266 shares of company stock worth $14,529,782 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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