The Manufacturers Life Insurance Company Buys 304 Shares of Owens Corning (OC)

The Manufacturers Life Insurance Company boosted its stake in shares of Owens Corning (NYSE:OC) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,689 shares of the construction company’s stock after buying an additional 304 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Owens Corning were worth $247,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OC. Geneva Advisors LLC boosted its position in Owens Corning by 6.2% during the second 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 in the last quarter. Marshall Wace North America L.P. raised its position in Owens Corning by 317.3% in the second 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 raised its position in Owens Corning by 14.3% in the second 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. Northpointe Capital LLC raised its position in Owens Corning by 4.6% in the second quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock valued at $2,700,000 after purchasing an additional 1,778 shares during the period. Finally, Stifel Financial Corp raised its position in Owens Corning by 2.1% in the second quarter. Stifel Financial Corp now owns 101,154 shares of the construction company’s stock valued at $6,775,000 after purchasing an additional 2,126 shares during the period. Institutional investors own 94.55% of the company’s stock.

OC has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a report on Friday, September 1st. Wells Fargo & Company upgraded Owens Corning from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. SunTrust Banks boosted their price objective on Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Royal Bank Of Canada upgraded Owens Corning from an “outperform” rating to a “top pick” rating in a report on Monday. Finally, Credit Suisse Group upped their price target on Owens Corning from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $81.10.

In other news, VP Ava Harter sold 487 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $81.96, for a total transaction of $39,914.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael H. Thaman sold 130,700 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $74.95, for a total value of $9,795,965.00. Following the transaction, the chairman now directly owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The disclosure for this sale can be found here. Insiders have sold a total of 260,633 shares of company stock valued at $20,992,687 over the last ninety days. 1.80% of the stock is owned by insiders.

Shares of Owens Corning (OC) traded up $1.20 during midday trading on Friday, hitting $87.85. The company had a trading volume of 1,067,600 shares, compared to its average volume of 1,060,383. The firm has a market cap of $9,639.03, a PE ratio of 21.56, a PEG ratio of 1.31 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62. Owens Corning has a 1 year low of $50.77 and a 1 year high of $91.40.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Owens Corning had a net margin of 5.64% and a return on equity of 9.57%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. research analysts forecast that Owens Corning will post 4.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. This is a boost from Owens Corning’s previous quarterly dividend of $0.20. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.

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Owens Corning 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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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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