3,065 Shares in Owens Corning (NYSE:OC) Bought by Harmony Asset Management LLC

Harmony Asset Management LLC acquired a new position in shares of Owens Corning (NYSE:OC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,065 shares of the construction company’s stock, valued at approximately $541,000.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after purchasing an additional 197,667 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Owens Corning by 168.3% during the 2nd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Owens Corning by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after purchasing an additional 24,522 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Owens Corning by 6.4% during 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. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

OC stock opened at $203.36 on Tuesday. The company’s 50-day moving average price is $186.20 and its two-hundred day moving average price is $176.45. Owens Corning has a 12 month low of $137.09 and a 12 month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $17.44 billion, a P/E ratio of 17.31, a P/E/G ratio of 2.30 and a beta of 1.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for 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 revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.15 EPS. On average, analysts anticipate that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OC. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a 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. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a 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 report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Buying and Selling

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 transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

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.