Owens Corning (NYSE:OC) Shares Bought by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its position in shares of Owens Corning (NYSE:OC) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,391 shares of the construction company’s stock after purchasing an additional 855 shares during the period. Hodges Capital Management Inc.’s holdings in Owens Corning were worth $9,248,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after buying an additional 187,001 shares in the last quarter. Pacer Advisors Inc. raised its position in Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after purchasing an additional 197,667 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after purchasing an additional 464,981 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Owens Corning by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock valued at $128,379,000 after purchasing an additional 24,522 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 0.9 %

Shares of NYSE OC opened at $201.91 on Friday. The firm has a market cap of $17.32 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 2.27 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 1 year low of $138.26 and a 1 year high of $214.53. The firm’s 50 day moving average price is $189.08 and its 200 day moving average price is $177.35.

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

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors 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 is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.37%. Owens Corning’s dividend payout ratio is 20.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at $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 available through this hyperlink. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on OC shares. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 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. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price 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.