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.
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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 (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.
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