Owens Corning (NYSE:OC) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its holdings in shares of Owens Corning (NYSE:OC) by 3.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 92,934 shares of the construction company’s stock after buying an additional 3,288 shares during the period. Glenmede Trust Co. NA’s holdings in Owens Corning were worth $16,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after buying an additional 261,564 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Owens Corning by 6.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after purchasing an additional 43,180 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Owens Corning by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after purchasing an additional 2,870 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in Owens Corning by 2.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock worth $102,665,000 after purchasing an additional 12,707 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $205.10 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $17.59 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.29 and a beta of 1.41. The firm’s 50 day moving average price is $185.03 and its 200-day moving average price is $176.07. Owens Corning has a one year low of $131.67 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business posted $4.15 earnings per share. As a group, equities research analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OC. Royal Bank of Canada increased 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. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. UBS Group upped their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

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.