Barclays PLC Has $22.20 Million Stock Position in Owens Corning (NYSE:OC)

Barclays PLC lifted its holdings in shares of Owens Corning (NYSE:OC) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,756 shares of the construction company’s stock after buying an additional 23,787 shares during the quarter. Barclays PLC’s holdings in Owens Corning were worth $22,197,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Owens Corning by 13.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the construction company’s stock valued at $263,000 after purchasing an additional 174 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Owens Corning by 133.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,327 shares of the construction company’s stock worth $1,620,000 after buying an additional 5,325 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Owens Corning by 59.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 72,426 shares of the construction company’s stock valued at $12,582,000 after acquiring an additional 26,986 shares during the last quarter. Blue Trust Inc. raised its position in shares of Owens Corning by 46.2% in the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after acquiring an additional 116 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Owens Corning by 90.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,457 shares of the construction company’s stock worth $253,000 after acquiring an additional 690 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group increased 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. Finally, Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $198.33.

Owens Corning Stock Performance

Shares of OC opened at $191.40 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The firm has a fifty day simple moving average of $191.33 and a 200 day simple moving average of $177.95. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.22 and a beta of 1.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts forecast that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.44%. Owens Corning’s payout ratio is 23.49%.

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.