Atomi Financial Group Inc. Grows Position in Owens Corning (NYSE:OC)

Atomi Financial Group Inc. boosted its stake in shares of Owens Corning (NYSE:OC) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,928 shares of the construction company’s stock after acquiring an additional 124 shares during the period. Atomi Financial Group Inc.’s holdings in Owens Corning were worth $1,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of OC. Bridgewater Associates LP grew its position in shares of Owens Corning by 9.8% during 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 in the last quarter. BOKF NA grew its holdings in Owens Corning by 71.9% during the 4th quarter. BOKF NA now owns 46,071 shares of the construction company’s stock valued at $6,829,000 after buying an additional 19,277 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Owens Corning by 134.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 108,848 shares of the construction company’s stock worth $16,135,000 after acquiring an additional 62,495 shares during the last quarter. LM Advisors LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth approximately $400,000. Finally, Bridgefront Capital LLC bought a new position in shares of Owens Corning during the 4th quarter valued at approximately $910,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OC. Wells Fargo & Company boosted their price target on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research 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. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. UBS Group boosted their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $186.69.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $182.08 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock’s fifty day moving average is $167.03 and its two-hundred day moving average is $170.94. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a market capitalization of $15.78 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41.

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

Owens Corning Announces Dividend

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

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.