First Bank & Trust Acquires 73 Shares of Owens Corning (NYSE:OC)

First Bank & Trust raised its holdings in Owens Corning (NYSE:OC) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,658 shares of the construction company’s stock after acquiring an additional 73 shares during the period. First Bank & Trust’s holdings in Owens Corning were worth $646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Nordea Investment Management AB grew its position in Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. grew its holdings 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 during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after purchasing an additional 43,180 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Owens Corning by 2.2% during the second 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 own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. UBS Group boosted their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.77.

Owens Corning Stock Performance

NYSE:OC traded down $1.53 during trading on Friday, reaching $181.90. The company’s stock had a trading volume of 596,818 shares, compared to its average volume of 679,874. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The firm has a 50 day moving average of $172.47 and a 200-day moving average of $172.34. Owens Corning has a 12 month low of $110.96 and a 12 month high of $191.44.

Owens Corning (NYSE:OC) last announced 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. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.22 EPS. Research analysts expect that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.32%. Owens Corning’s payout ratio is 19.43%.

Insider Transactions at Owens Corning

In other 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 completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This 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 3,051 shares of the 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 sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

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.