Ritholtz Wealth Management Raises Stock Holdings in Owens Corning (NYSE:OC)

Ritholtz Wealth Management grew its stake in shares of Owens Corning (NYSE:OC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,933 shares of the construction company’s stock after acquiring an additional 302 shares during the quarter. Ritholtz Wealth Management’s holdings in Owens Corning were worth $2,813,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OC. MV Capital Management Inc. boosted its holdings in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares during the period. NBC Securities Inc. purchased a new stake in Owens Corning during the first quarter valued at $26,000. Riverview Trust Co bought a new position in Owens Corning in the first quarter valued at about $28,000. Finally, ORG Partners LLC purchased a new position in Owens Corning in the first quarter worth about $31,000. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OC shares. UBS Group increased their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their price target on Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $186.69.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred 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 directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Owens Corning Trading Up 2.6 %

Shares of OC opened at $180.45 on Friday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a 50 day simple moving average of $167.02 and a two-hundred day simple moving average of $171.20. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market cap of $15.69 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 3.62 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm posted $4.22 EPS. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is presently 20.32%.

About Owens Corning

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.