NBC Securities Inc. Grows Holdings in Owens Corning (NYSE:OC)

NBC Securities Inc. grew its stake in Owens Corning (NYSE:OC) by 85.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515 shares of the construction company’s stock after buying an additional 237 shares during the period. NBC Securities Inc.’s holdings in Owens Corning were worth $90,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OC. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after purchasing an additional 533,910 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after purchasing an additional 446,073 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Owens Corning in the 1st quarter valued at $60,424,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

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 directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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 approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OC shares. Barclays cut their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Evercore ISI upped their price target 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. Royal Bank of Canada upped their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $187.77.

Owens Corning Stock Up 1.2 %

Shares of NYSE OC opened at $189.60 on Monday. 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 has a 12 month low of $109.95 and a 12 month high of $191.44. The firm has a market capitalization of $16.49 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.74 and a beta of 1.41. The firm has a fifty day simple moving average of $170.05 and a two-hundred day simple moving average of $171.93.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business earned $4.22 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts expect that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.27%. Owens Corning’s payout ratio is 20.32%.

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.