Owens Corning (NYSE:OC) Shares Acquired by Millburn Ridgefield Corp

Millburn Ridgefield Corp raised its holdings in Owens Corning (NYSE:OC) by 1,174.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,096 shares of the construction company’s stock after purchasing an additional 1,010 shares during the quarter. Millburn Ridgefield Corp’s holdings in Owens Corning were worth $193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the second quarter worth about $32,000. Tobam grew its stake in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares during the period. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the 3rd quarter valued at approximately $38,000. Quarry LP lifted its stake in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the period. Finally, Friedenthal Financial purchased a new stake in Owens Corning during the second quarter worth $48,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Owens Corning Trading Down 0.5 %

Shares of OC opened at $202.35 on Wednesday. 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 firm has a 50-day moving average price of $186.78 and a 200 day moving average price of $176.66. Owens Corning has a 12-month low of $137.09 and a 12-month high of $214.53. The firm has a market capitalization of $17.36 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.28 and a beta of 1.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.15 EPS. Sell-side analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. UBS Group upped their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

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.