GAM Holding AG Has $5,339,000 Position in Owens Corning (OC)
GAM Holding AG maintained its stake in Owens Corning (NYSE:OC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,000 shares of the company’s stock at the end of the third quarter. GAM Holding AG owned about 0.09% of Owens Corning worth $5,339,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Shinko Asset Management Co. Ltd. increased its position in shares of Owens Corning by 0.8% in the third quarter. Shinko Asset Management Co. Ltd. now owns 6,364 shares of the company’s stock valued at $340,000 after buying an additional 49 shares in the last quarter. Raymond James Trust N.A. increased its position in Owens Corning by 1.0% in the second quarter. Raymond James Trust N.A. now owns 5,122 shares of the company’s stock valued at $264,000 after buying an additional 53 shares during the period. Globeflex Capital L P increased its position in Owens Corning by 0.3% in the second quarter. Globeflex Capital L P now owns 28,324 shares of the company’s stock valued at $1,459,000 after buying an additional 91 shares during the period. Amalgamated Bank increased its position in Owens Corning by 1.0% in the second quarter. Amalgamated Bank now owns 13,866 shares of the company’s stock valued at $749,000 after buying an additional 138 shares during the period. Finally, Alpha Windward LLC increased its position in Owens Corning by 2.1% in the third quarter. Alpha Windward LLC now owns 8,769 shares of the company’s stock valued at $468,000 after buying an additional 180 shares during the period.
Shares of Owens Corning (NYSE:OC) traded down 3.06% during trading on Wednesday, reaching $51.38. 1,231,861 shares of the company traded hands. The firm’s 50 day moving average price is $50.75 and its 200-day moving average price is $52.14. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 14.38 and a beta of 1.15. Owens Corning has a 52 week low of $38.96 and a 52 week high of $58.69.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. Owens Corning had a net margin of 7.44% and a return on equity of 10.77%. Owens Corning’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. Equities analysts anticipate that Owens Corning will post $3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $0.72 annualized dividend and a yield of 1.40%. Owens Corning’s payout ratio is 20.17%.
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Several research analysts have commented on OC shares. Wells Fargo & Co. started coverage on shares of Owens Corning in a report on Thursday, September 29th. They set a “market perform” rating for the company. Zacks Investment Research downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Bank of America Corp. started coverage on shares of Owens Corning in a report on Friday, September 23rd. They set a “neutral” rating and a $59.00 price objective for the company. Vertical Research raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday, October 27th. Finally, FBR & Co dropped their price objective on shares of Owens Corning from $57.00 to $56.00 and set a “market perform” rating for the company in a report on Thursday, October 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $55.24.
Owens Corning Company Profile
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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