Vest Financial LLC Acquires 2,233 Shares of Owens Corning (NYSE:OC)

Vest Financial LLC lifted its holdings in Owens Corning (NYSE:OC) by 35.7% during the third quarter, HoldingsChannel.com reports. The firm owned 8,485 shares of the construction company’s stock after purchasing an additional 2,233 shares during the period. Vest Financial LLC’s holdings in Owens Corning were worth $1,498,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Owens Corning in the first quarter valued at approximately $26,000. Los Angeles Capital Management LLC lifted its holdings in Owens Corning by 21.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 7,265 shares of the construction company’s stock valued at $1,212,000 after purchasing an additional 1,262 shares during the last quarter. Riverview Trust Co bought a new position in Owens Corning during the first quarter worth $28,000. Atlas Capital Advisors LLC increased its holdings in shares of Owens Corning by 5.5% in the first quarter. Atlas Capital Advisors LLC now owns 4,396 shares of the construction company’s stock valued at $733,000 after purchasing an additional 229 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Owens Corning by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company’s stock valued at $1,106,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on OC. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Evercore ISI increased their target price on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $187.77.

Owens Corning Trading Up 1.2 %

Shares of OC stock opened at $189.60 on Monday. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.44. The stock’s fifty day moving average price is $170.05 and its two-hundred day moving average price is $171.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $16.49 billion, a PE ratio of 16.05, a P/E/G ratio of 3.74 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.22 earnings per share. Equities analysts predict that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.