International Assets Investment Management LLC Acquires New Position in Owens Corning (NYSE:OC)

International Assets Investment Management LLC bought a new position in Owens Corning (NYSE:OC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 883 shares of the construction company’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares during the period. ORG Partners LLC bought a new position in Owens Corning in the 1st quarter worth approximately $31,000. Innealta Capital LLC purchased a new stake in Owens Corning during the 2nd quarter valued at approximately $32,000. Tobam raised its position in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares in the last quarter. Institutional investors 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 value of $538,501.50. Following the transaction, the insider now directly 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 document filed with the SEC, which is accessible through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company upped their price objective on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada raised their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $192.62.

Owens Corning Price Performance

Owens Corning stock opened at $187.46 on Friday. The firm has a market capitalization of $16.30 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. Owens Corning has a 12-month low of $120.17 and a 12-month high of $191.44. The firm has a 50-day moving average price of $175.40 and a 200-day moving average price of $173.46. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.37. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm earned $4.15 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.28%. Owens Corning’s payout ratio is 20.32%.

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.