Charles Schwab Investment Management Inc. Grows Position in Owens Corning (NYSE:OC)

Charles Schwab Investment Management Inc. raised its position in shares of Owens Corning (NYSE:OC) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 593,154 shares of the construction company’s stock after acquiring an additional 2,870 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of Owens Corning worth $104,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. ST Germain D J Co. Inc. lifted its holdings in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $32,000. Tobam boosted its holdings in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Quarry LP increased its position in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Owens Corning during the 2nd quarter valued at $48,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s 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 sale, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $208.07 on Wednesday. Owens Corning has a 12 month low of $131.67 and a 12 month high of $214.53. The stock’s fifty day moving average price is $183.63 and its 200-day moving average price is $175.64. The firm has a market cap of $17.85 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the business posted $4.15 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.15%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

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.