Empirical Asset Management LLC Boosts Holdings in Owens Corning (NYSE:OC)

Empirical Asset Management LLC grew its position in shares of Owens Corning (NYSE:OC) by 110.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430 shares of the construction company’s stock after purchasing an additional 1,797 shares during the period. Empirical Asset Management LLC’s holdings in Owens Corning were worth $606,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Tobam grew its stake in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. GAMMA Investing LLC increased its stake in Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after acquiring an additional 77 shares during the last quarter. Bessemer Group Inc. raised its position in Owens Corning by 24.9% during the first 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. MV Capital Management Inc. lifted its stake in Owens Corning by 112.9% during 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. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of Owens Corning by 2.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock worth $783,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated 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 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 legal filing with the SEC, which is available at this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the 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 sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was 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 Price Performance

Shares of OC stock opened at $187.49 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The firm has a market cap of $16.25 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.62 and a beta of 1.41. The business’s 50 day moving average price is $167.48 and its 200-day moving average price is $171.38.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 business 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 earned $4.22 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is currently 19.43%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. UBS Group lifted their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning has a consensus rating of “Hold” and a consensus price target of $186.69.

Owens Corning Company 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.