Lazard Freres Gestion S.A.S. Purchases 380 Shares of Owens Corning (NYSE:OC)

Lazard Freres Gestion S.A.S. grew its holdings in Owens Corning (NYSE:OC) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,680 shares of the construction company’s stock after acquiring an additional 380 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Owens Corning were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ST Germain D J Co. Inc. boosted its holdings in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Innealta Capital LLC bought a new stake in shares of Owens Corning in the second quarter valued at approximately $32,000. Tobam grew its position in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Brooklyn Investment Group bought a new position in Owens Corning during the 3rd quarter worth $38,000. Finally, Quarry LP raised its holdings in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OC has been the topic of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.62.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The shares were 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 owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Trading Down 1.2 %

Shares of Owens Corning stock traded down $2.59 on Tuesday, hitting $208.22. The stock had a trading volume of 34,990 shares, compared to its average volume of 688,402. The stock has a 50 day moving average of $183.63 and a 200 day moving average of $175.64. The firm has a market capitalization of $17.86 billion, a P/E ratio of 17.95, a PEG ratio of 2.27 and a beta of 1.41. Owens Corning has a twelve month low of $131.67 and a twelve month high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.15 EPS. Sell-side analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is presently 20.43%.

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.