Personal Capital Advisors Corp Grows Stake in Owens Corning Inc (NYSE:OC)

Personal Capital Advisors Corp lifted its holdings in shares of Owens Corning Inc (NYSE:OC) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,319 shares of the construction company’s stock after purchasing an additional 9,809 shares during the period. Personal Capital Advisors Corp owned 0.13% of Owens Corning worth $11,318,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Owens Corning by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,562,420 shares of the construction company’s stock worth $706,837,000 after acquiring an additional 190,866 shares in the last quarter. BlackRock Inc. raised its stake in shares of Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after purchasing an additional 6,338,177 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Owens Corning by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock valued at $245,337,000 after acquiring an additional 27,809 shares during the last quarter. State Street Corp increased its position in shares of Owens Corning by 0.4% during the first quarter. State Street Corp now owns 2,305,764 shares of the construction company’s stock valued at $141,507,000 after acquiring an additional 8,490 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Owens Corning by 21.2% during the second quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock valued at $112,432,000 after acquiring an additional 294,400 shares during the last quarter. Institutional investors own 98.00% of the company’s stock.

A number of research firms have issued reports on OC. Wells Fargo & Company raised Owens Corning from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $83.00 in a research report on Wednesday, August 30th. Royal Bank of Canada reissued a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Evercore ISI reissued an “outperform” rating and set a $80.00 price objective (down previously from $88.00) on shares of Owens Corning in a research note on Wednesday, October 11th. MKM Partners raised Owens Corning from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $47.00 to $62.00 in a research note on Thursday, July 27th. Finally, FBR & Co lifted their price target on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research note on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Owens Corning has a consensus rating of “Buy” and a consensus price target of $76.95.

Shares of Owens Corning Inc (OC) traded down $0.57 during trading hours on Friday, hitting $81.89. 663,400 shares of the stock were exchanged, compared to its average volume of 1,006,326. The stock has a market capitalization of $9,172.93, a price-to-earnings ratio of 20.51, a PEG ratio of 1.44 and a beta of 1.08. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. Owens Corning Inc has a fifty-two week low of $49.80 and a fifty-two week high of $83.31.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.01). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. sell-side analysts expect that Owens Corning Inc will post 4.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Monday, October 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 13th. Owens Corning’s payout ratio is 23.88%.

In other news, VP Kelly Schmidt sold 1,462 shares of Owens Corning stock in a transaction on Friday, August 25th. The shares were sold at an average price of $70.35, for a total transaction of $102,851.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael C. Mcmurray sold 14,000 shares of Owens Corning stock in a transaction on Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at $3,129,897.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,266 shares of company stock worth $14,529,782. 1.80% of the stock is currently owned by corporate insiders.

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Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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