Invictus RG Has $364,000 Holdings in Owens Corning Inc (OC)

Invictus RG grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 88.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,703 shares of the construction company’s stock after acquiring an additional 2,203 shares during the quarter. Invictus RG’s holdings in Owens Corning were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Raymond James Trust N.A. boosted its position in Owens Corning by 0.4% during the 2nd quarter. Raymond James Trust N.A. now owns 7,114 shares of the construction company’s stock worth $476,000 after acquiring an additional 26 shares during the period. Vantage Financial Partners Ltd. Inc. acquired a new position in Owens Corning during the 2nd quarter worth $228,000. Penserra Capital Management LLC lifted its holdings in shares of Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after buying an additional 296 shares during the period. Ingalls & Snyder LLC lifted its holdings in shares of Owens Corning by 7.1% in the second quarter. Ingalls & Snyder LLC now owns 4,550 shares of the construction company’s stock valued at $304,000 after buying an additional 300 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Owens Corning by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock valued at $247,000 after buying an additional 304 shares during the period. Institutional investors own 94.55% of the company’s stock.

Several analysts have recently weighed in on the company. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday. Argus assumed coverage on Owens Corning in a report on Wednesday. They issued a “buy” rating and a $109.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Stifel Nicolaus restated a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a report on Thursday, October 26th. Finally, KeyCorp restated a “buy” rating and issued a $84.00 price objective on shares of Owens Corning in a report on Wednesday, September 13th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Buy” and an average target price of $80.14.

In related news, Chairman Michael H. Thaman sold 130,700 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the transaction, the chairman now directly owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $76.52, for a total value of $1,071,280.00. Following the transaction, the chief financial officer now directly owns 40,903 shares in the company, valued at $3,129,897.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,633 shares of company stock valued at $22,063,967. 1.80% of the stock is currently owned by company insiders.

Shares of Owens Corning Inc (OC) traded down $1.31 during midday trading on Wednesday, hitting $88.90. The stock had a trading volume of 1,664,400 shares, compared to its average volume of 1,058,276. Owens Corning Inc has a twelve month low of $50.77 and a twelve month high of $91.40. The stock has a market capitalization of $10,035.05, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the 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 company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. research analysts anticipate that Owens Corning Inc will post 4.33 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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