Cornerstone Capital Management Holdings LLC. boosted its position in Owens Corning (NYSE:OC) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,309 shares of the construction company’s stock after acquiring an additional 25,148 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.25% of Owens Corning worth $21,681,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust increased its stake in Owens Corning by 213.5% in the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after acquiring an additional 1,110 shares during the last quarter. Creative Planning increased its stake in Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after acquiring an additional 1,043 shares during the last quarter. Penserra Capital Management LLC increased its stake in Owens Corning by 11.1% in the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after acquiring an additional 296 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Owens Corning in the third quarter valued at approximately $202,000. Finally, Worth Venture Partners LLC bought a new stake in shares of Owens Corning during the third quarter worth $213,000. 94.55% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning (OC) opened at $88.59 on Friday. Owens Corning has a fifty-two week low of $50.77 and a fifty-two week high of $91.40. The firm has a market cap of $9,854.84, a PE ratio of 22.04, a PEG ratio of 1.33 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $1.09 EPS. Owens Corning’s revenue for the quarter was up 12.2% on a year-over-year basis. sell-side analysts forecast that Owens Corning will post 4.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, December 29th. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.20. Owens Corning’s dividend payout ratio is currently 23.88%.

A number of research firms have weighed in on OC. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Wednesday. Argus began coverage on shares of Owens Corning in a research note on Wednesday. They set a “buy” rating and a $109.00 target price on the stock. Royal Bank Of Canada raised shares of Owens Corning from an “outperform” rating to a “top pick” rating in a research note on Monday, December 4th. SunTrust Banks boosted their target price on shares of Owens Corning to $85.00 and gave the stock a “hold” rating in a research note on Tuesday, November 21st. Finally, Bank of America boosted their target price on shares of Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $81.10.

In other news, CFO Michael C. Mcmurray sold 18,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the completion of the sale, the chief financial officer now directly owns 52,228 shares of the company’s stock, valued at $4,741,257.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Ava Harter sold 487 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $81.96, for a total transaction of $39,914.52. The disclosure for this sale can be found here. Insiders have sold 260,633 shares of company stock worth $20,992,687 in the last quarter. Company insiders own 1.80% of the company’s stock.

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About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. 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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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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