Rothschild Asset Management Inc. Acquires 44,850 Shares of Owens Corning Inc (OC)

Rothschild Asset Management Inc. lifted its holdings in shares of Owens Corning Inc (NYSE:OC) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 480,573 shares of the construction company’s stock after buying an additional 44,850 shares during the period. Rothschild Asset Management Inc. owned 0.43% of Owens Corning worth $37,172,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OC. TIAA FSB acquired a new position in Owens Corning during the 3rd quarter valued at about $3,022,000. Geneva Advisors LLC boosted its stake in Owens Corning by 6.2% during the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after purchasing an additional 603 shares during the period. Marshall Wace North America L.P. boosted its stake in Owens Corning by 317.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after purchasing an additional 70,667 shares during the period. Aviva PLC boosted its stake in Owens Corning by 14.3% during the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after purchasing an additional 5,000 shares during the period. Finally, Northpointe Capital LLC lifted its stake in shares of Owens Corning by 4.6% in the 2nd quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock worth $2,700,000 after acquiring an additional 1,778 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Rothschild Asset Management Inc. Acquires 44,850 Shares of Owens Corning Inc (OC)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://sportsperspectives.com/2017/11/21/rothschild-asset-management-inc-acquires-44850-shares-of-owens-corning-inc-oc.html.

In other Owens Corning news, Director W Howard Morris sold 2,026 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $81.95, for a total value of $166,030.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Michael H. Thaman sold 130,700 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the transaction, the chairman now owns 847,992 shares in the company, valued at approximately $63,557,000.40. The disclosure for this sale can be found here. Insiders have sold 198,779 shares of company stock worth $14,735,728 in the last 90 days. 1.80% of the stock is owned by company insiders.

Owens Corning Inc (NYSE:OC) traded down $0.38 during mid-day trading on Tuesday, hitting $85.25. 1,557,600 shares of the stock were exchanged, compared to its average volume of 1,016,233. Owens Corning Inc has a twelve month low of $50.77 and a twelve month high of $86.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99. The firm has a market capitalization of $9,540.00, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.49 and a beta of 1.08.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. equities research analysts predict that Owens Corning Inc will post 4.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.94%. Owens Corning’s dividend payout ratio is currently 23.88%.

A number of analysts have recently weighed in on OC shares. Credit Suisse Group set a $90.00 price target on shares of Owens Corning and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Evercore ISI reaffirmed an “outperform” rating and issued a $80.00 price target (down from $88.00) on shares of Owens Corning in a research note on Wednesday, October 11th. Nomura reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Owens Corning in a research note on Monday, September 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research note on Friday, September 1st. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Owens Corning in a research note on Tuesday, September 12th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.70.

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)

Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply