Bridgewater Associates LP Has $7.04 Million Holdings in Owens Corning (NYSE:OC)

Bridgewater Associates LP trimmed its position in Owens Corning (NYSE:OC) by 45.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,907 shares of the construction company’s stock after selling 32,935 shares during the quarter. Bridgewater Associates LP’s holdings in Owens Corning were worth $7,044,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Retirement Guys Formula LLC raised its position in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after buying an additional 58 shares during the period. PFG Investments LLC lifted its position in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares in the last quarter. Tobam boosted its holdings in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the period. First Bank & Trust grew its position in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, KMG Fiduciary Partners LLC increased its stake in Owens Corning by 1.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after buying an additional 80 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 0.5 %

Shares of NYSE:OC opened at $206.03 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 stock’s 50-day moving average is $185.57 and its 200-day moving average is $176.27. The company has a market cap of $17.67 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.29 and a beta of 1.41. Owens Corning has a 52-week low of $132.62 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last issued 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 during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.15 EPS. Equities research analysts predict that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analyst Ratings Changes

OC has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, The Goldman Sachs Group raised 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $192.62.

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.