Petrus Trust Company LTA Has $613,000 Holdings in Owens Corning (NYSE:OC)

Petrus Trust Company LTA lessened its holdings in shares of Owens Corning (NYSE:OC) by 12.4% during the third quarter, HoldingsChannel.com reports. The firm owned 3,474 shares of the construction company’s stock after selling 492 shares during the quarter. Petrus Trust Company LTA’s holdings in Owens Corning were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OC. Innealta Capital LLC acquired a new stake in shares of Owens Corning during the 2nd quarter worth approximately $32,000. Tobam boosted its position 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 acquiring an additional 103 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $38,000. Quarry LP boosted its position in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Owens Corning during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

OC stock opened at $203.24 on Thursday. Owens Corning has a 52-week low of $137.29 and a 52-week high of $214.53. 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 company has a fifty day moving average price of $187.34 and a 200-day moving average price of $176.84. The company has a market capitalization of $17.43 billion, a P/E ratio of 17.30, a PEG ratio of 2.26 and a beta of 1.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $4.15 earnings per share. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities analysts expect that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given 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 Ratings Changes

OC has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective 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. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning 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.