Owens Corning (NYSE:OC) Shares Bought by Bank of New Hampshire

Bank of New Hampshire boosted its holdings in shares of Owens Corning (NYSE:OC) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,159 shares of the construction company’s stock after acquiring an additional 927 shares during the period. Bank of New Hampshire’s holdings in Owens Corning were worth $2,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OC. TD Asset Management Inc raised its position in shares of Owens Corning by 30.6% in the fourth quarter. TD Asset Management Inc now owns 8,990 shares of the construction company’s stock valued at $1,333,000 after buying an additional 2,108 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $1,008,000. Seven Eight Capital LP purchased a new stake in Owens Corning in the fourth quarter valued at approximately $1,018,000. Bridgewater Associates LP grew its holdings in Owens Corning by 9.8% in the fourth quarter. Bridgewater Associates LP now owns 114,806 shares of the construction company’s stock valued at $17,018,000 after purchasing an additional 10,269 shares during the period. Finally, BOKF NA grew its holdings in Owens Corning by 71.9% in the fourth quarter. BOKF NA now owns 46,071 shares of the construction company’s stock valued at $6,829,000 after purchasing an additional 19,277 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated 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 in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The shares were 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 of the company’s stock, valued at $10,074,443.50. This represents 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 Stock Up 5.5 %

OC traded up $9.41 during trading on Monday, hitting $181.42. The company had a trading volume of 868,053 shares, compared to its average volume of 677,174. The company has a market cap of $15.72 billion, a PE ratio of 14.69, a P/E/G ratio of 3.47 and a beta of 1.41. The business has a 50-day moving average of $167.03 and a 200-day moving average of $170.83. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

Owens Corning (NYSE:OC) last issued its earnings results 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 company had revenue of $2.79 billion for 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 revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.22 earnings per share. As a group, analysts forecast that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.32%. Owens Corning’s dividend payout ratio is currently 19.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OC shares. Wells Fargo & Company boosted their target price on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $186.69.

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.