2,135 Shares in Owens Corning (NYSE:OC) Bought by Symmetry Investments LP

Symmetry Investments LP acquired a new stake in shares of Owens Corning (NYSE:OC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,135 shares of the construction company’s stock, valued at approximately $371,000.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Owens Corning in the 4th quarter worth about $118,251,000. Nordea Investment Management AB lifted its position in shares of Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 38.9% in the second 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 during the last quarter. Panagora Asset Management Inc. increased its position in shares of Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Finally, Swedbank AB acquired a new position in Owens Corning in the 1st quarter valued at $60,424,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 2.2 %

NYSE OC opened at $174.20 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock has a market capitalization of $15.10 billion, a P/E ratio of 14.11, a PEG ratio of 3.18 and a beta of 1.41. The firm’s 50-day moving average is $167.63 and its two-hundred day moving average is $169.53. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $4.22 EPS. On average, sell-side analysts anticipate that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.38%. Owens Corning’s payout ratio is presently 19.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price objective for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Loop Capital increased their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Royal Bank of Canada boosted their target price on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, UBS Group increased their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction that occurred 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 owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

About Owens Corning

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.