Gould Capital LLC Has $1.19 Million Stock Holdings in Owens Corning (NYSE:OC)

Gould Capital LLC lifted its stake in Owens Corning (NYSE:OC) by 3,470.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,749 shares of the construction company’s stock after acquiring an additional 6,560 shares during the quarter. Gould Capital LLC’s holdings in Owens Corning were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new stake in Owens Corning in the second quarter worth $32,000. Tobam raised its stake in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Owens Corning in the 3rd quarter worth approximately $38,000. Quarry LP boosted its position in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the period. Finally, Friedenthal Financial acquired a new position in Owens Corning during the second quarter valued at approximately $48,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.4 %

OC stock opened at $199.18 on Tuesday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $189.53 and its 200-day moving average is $177.51. The firm has a market cap of $17.09 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.26 and a beta of 1.42.

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

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Analyst Ratings Changes

Several research analysts recently commented on OC shares. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $193.67.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.89% of the company’s stock.

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.