Blue Trust Inc. Acquires 731 Shares of Owens Corning (NYSE:OC)

Blue Trust Inc. grew its holdings in shares of Owens Corning (NYSE:OC) by 199.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098 shares of the construction company’s stock after acquiring an additional 731 shares during the period. Blue Trust Inc.’s holdings in Owens Corning were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Owens Corning by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company’s stock worth $1,106,000 after buying an additional 608 shares during the period. LVW Advisors LLC bought a new position in Owens Corning in the 1st quarter worth $268,000. Allspring Global Investments Holdings LLC boosted its holdings in Owens Corning by 9.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 160,899 shares of the construction company’s stock worth $26,838,000 after buying an additional 14,175 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Owens Corning in the 1st quarter worth $3,568,000. Finally, MV Capital Management Inc. boosted its holdings in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares during the period. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday. Evercore ISI increased their price objective on shares of Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays decreased their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $187.77.

Insider Transactions at Owens Corning

In other 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 transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were 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 in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Owens Corning stock opened at $181.90 on Friday. The firm has a market capitalization of $15.76 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company’s 50-day moving average is $172.47 and its 200 day moving average is $172.36. Owens Corning has a 1-year low of $110.96 and a 1-year high of $191.44. 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 (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $4.22 earnings per share. Research analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.