Ashton Thomas Private Wealth LLC Grows Stock Holdings in Owens Corning (NYSE:OC)

Ashton Thomas Private Wealth LLC raised its position in Owens Corning (NYSE:OC) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,555 shares of the construction company’s stock after acquiring an additional 121 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Owens Corning were worth $2,216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Retirement Guys Formula LLC increased its position in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares during the period. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Tobam boosted its stake in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust boosted its stake in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OC shares. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Owens Corning Trading Down 1.4 %

Shares of NYSE OC opened at $190.67 on Wednesday. The firm’s 50 day moving average price is $176.94 and its 200-day moving average price is $174.09. The company has a market cap of $16.36 billion, a PE ratio of 16.23, a P/E/G ratio of 2.17 and a beta of 1.41. Owens Corning has a 52-week low of $123.10 and a 52-week high of $197.52. 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 released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company earned $4.15 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. Owens Corning’s payout ratio is 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.