7,477 Shares in Owens Corning (NYSE:OC) Acquired by Hixon Zuercher LLC

Hixon Zuercher LLC purchased a new position in shares of Owens Corning (NYSE:OC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,477 shares of the construction company’s stock, valued at approximately $1,320,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OC. Retirement Guys Formula LLC increased its holdings in shares of 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 acquiring an additional 58 shares in the last quarter. PFG Investments LLC increased its stake in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Tobam raised its holdings in Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. First Bank & Trust lifted its stake in shares of Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after buying an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Owens Corning by 24.9% during the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after buying an additional 78 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OC shares. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Barclays decreased their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Wells Fargo & Company raised their price objective on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Owens Corning has a consensus rating of “Hold” and a consensus target price of $187.77.

Owens Corning Stock Performance

NYSE OC opened at $182.57 on Wednesday. The company has a market capitalization of $15.87 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a 52-week low of $120.17 and a 52-week high of $191.44. The company has a 50-day simple moving average of $174.29 and a 200 day simple moving average of $173.12.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio is currently 20.32%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the 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 completion of the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s 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 of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% 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.