Lindenwold Advisors INC Acquires 97 Shares of Owens Corning (NYSE:OC)

Lindenwold Advisors INC raised its holdings in shares of Owens Corning (NYSE:OC) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,168 shares of the construction company’s stock after acquiring an additional 97 shares during the period. Lindenwold Advisors INC’s holdings in Owens Corning were worth $559,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC increased its holdings in Owens Corning by 67.7% in the third quarter. Quest Partners LLC now owns 8,940 shares of the construction company’s stock valued at $1,578,000 after purchasing an additional 3,608 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Owens Corning by 15.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 231,352 shares of the construction company’s stock valued at $40,838,000 after acquiring an additional 30,192 shares during the last quarter. Chesapeake Capital Corp IL increased its stake in shares of Owens Corning by 28.2% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,134 shares of the construction company’s stock valued at $721,000 after acquiring an additional 909 shares during the last quarter. Natixis Advisors LLC boosted its stake in Owens Corning by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock worth $3,160,000 after acquiring an additional 339 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Owens Corning by 1.4% during the 3rd quarter. Empowered Funds LLC now owns 185,901 shares of the construction company’s stock worth $32,815,000 after acquiring an additional 2,646 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on OC. Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Seven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

Shares of NYSE OC opened at $195.27 on Tuesday. The stock has a market capitalization of $16.75 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. Owens Corning has a 52 week low of $129.24 and a 52 week high of $199.54. The stock has a 50 day moving average price of $179.89 and a 200 day moving average price of $174.79. 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 earnings results 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 business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Analysts predict that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.23%. Owens Corning’s dividend payout ratio (DPR) is currently 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.