Goldman Sachs Group Inc. Purchases 52,116 Shares of Owens Corning (NYSE:OC)

Goldman Sachs Group Inc. grew its position in shares of Owens Corning (NYSE:OC) by 25.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,998 shares of the construction company’s stock after purchasing an additional 52,116 shares during the period. Goldman Sachs Group Inc. owned approximately 0.30% of Owens Corning worth $38,391,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OC. Paralel Advisors LLC raised its holdings in shares of Owens Corning by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 19,963 shares of the construction company’s stock valued at $2,723,000 after acquiring an additional 224 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Owens Corning by 23.1% during the third quarter. Kestra Advisory Services LLC now owns 2,165 shares of the construction company’s stock valued at $295,000 after purchasing an additional 406 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Owens Corning during the 3rd quarter valued at $1,186,000. Envestnet Asset Management Inc. lifted its holdings in shares of Owens Corning by 121.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 171,539 shares of the construction company’s stock worth $23,400,000 after acquiring an additional 94,072 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Owens Corning in the third quarter worth $430,000. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OC. Barclays raised their price target on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. UBS Group raised their target price on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com downgraded Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Citigroup increased their price objective on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Argus upped their target price on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Hold” and an average target price of $179.00.

Owens Corning Stock Performance

Shares of OC stock opened at $177.70 on Friday. The company’s fifty day moving average price is $174.28 and its 200-day moving average price is $160.39. The stock has a market cap of $15.40 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 5.34 and a beta of 1.46. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a 12 month low of $109.95 and a 12 month high of $184.00.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $2.77 earnings per share. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that Owens Corning will post 15.48 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Buying and Selling at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the sale, the chief financial officer now owns 34,626 shares in the company, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,360 shares of company stock worth $2,916,365. 0.89% of the stock is owned by 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.