Truvestments Capital LLC Boosts Holdings in Owens Corning (NYSE:OC)

Truvestments Capital LLC grew its holdings in Owens Corning (NYSE:OC) by 9.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,543 shares of the construction company’s stock after buying an additional 400 shares during the quarter. Truvestments Capital LLC’s holdings in Owens Corning were worth $802,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Loomis Sayles & Co. L P boosted its position in shares of Owens Corning by 36.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,094 shares of the construction company’s stock worth $546,000 after buying an additional 829 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Owens Corning by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 141,803 shares of the construction company’s stock valued at $25,031,000 after buying an additional 7,553 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Owens Corning by 5.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock valued at $2,399,000 after buying an additional 700 shares during the last quarter. Alpha DNA Investment Management LLC increased its position in Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Up 1.4 %

OC opened at $205.51 on Monday. The stock has a market capitalization of $17.63 billion, a PE ratio of 17.26, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 12-month low of $131.67 and a 12-month high of $205.51. The firm’s fifty day moving average price is $182.76 and its 200 day moving average price is $175.41.

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

Owens Corning Dividend Announcement

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

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OC. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.62.

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.