Penserra Capital Management LLC Has $832,000 Stock Holdings in Owens Corning (NYSE:OC)

Penserra Capital Management LLC lifted its position in Owens Corning (NYSE:OC) by 53.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,726 shares of the construction company’s stock after buying an additional 1,643 shares during the quarter. Penserra Capital Management LLC’s holdings in Owens Corning were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Guys Formula LLC raised its holdings in Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after acquiring an additional 58 shares during the period. PFG Investments LLC grew its position in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the last quarter. Tobam increased its stake in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the period. First Bank & Trust lifted its position in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC boosted its stake in Owens Corning by 1.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE OC opened at $205.10 on Thursday. Owens Corning has a 1-year low of $131.67 and a 1-year high of $214.53. The company has a 50 day moving average of $184.37 and a 200-day moving average of $175.86. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.36 and a beta of 1.41.

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

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.17%. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. 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. Finally, Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated 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 directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.