Chesapeake Capital Corp IL Has $721,000 Holdings in Owens Corning (NYSE:OC)

Chesapeake Capital Corp IL boosted its position in Owens Corning (NYSE:OC) by 28.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,134 shares of the construction company’s stock after buying an additional 909 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Owens Corning were worth $721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ST Germain D J Co. Inc. grew its position 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 worth $26,000 after purchasing an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new stake in Owens Corning in the 2nd quarter worth $32,000. Tobam grew its position in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Quarry LP grew its position in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Owens Corning in the 2nd quarter worth $48,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated 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 approximately $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on OC shares. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Evercore ISI lifted 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 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. Finally, 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 report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Down 0.7 %

Shares of OC stock opened at $193.99 on Friday. Owens Corning has a 12-month low of $128.79 and a 12-month high of $199.54. The company has a market capitalization of $16.64 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.18 and a beta of 1.41. The firm has a 50-day moving average price of $179.12 and a 200 day moving average price of $174.59. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $4.15 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. Research analysts forecast that Owens Corning will post 15.39 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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

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.