Sage Capital Advisors llc raised its stake in Owens Corning (NYSE:OC) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,254 shares of the construction company’s stock after acquiring an additional 303 shares during the quarter. Sage Capital Advisors llc’s holdings in Owens Corning were worth $1,775,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Private Capital Group LLC increased its stake in Owens Corning by 95.8% in the second quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after acquiring an additional 388 shares during the last quarter. Covington Capital Management bought a new position in shares of Owens Corning in the 3rd quarter valued at $52,000. Penserra Capital Management LLC increased its stake in shares of Owens Corning by 25.0% in the 3rd quarter. Penserra Capital Management LLC now owns 980 shares of the construction company’s stock valued at $61,000 after purchasing an additional 196 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Owens Corning by 103.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,052 shares of the construction company’s stock valued at $65,000 after purchasing an additional 536 shares during the last quarter. Finally, Maj Invest Holding A S bought a new position in shares of Owens Corning in the 3rd quarter valued at $101,000. 99.65% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. BNP Paribas assumed coverage on Owens Corning in a research note on Wednesday, October 9th. They issued an “outperform” rating on the stock. Berenberg Bank assumed coverage on Owens Corning in a research note on Tuesday. They issued a “hold” rating and a $68.00 price target on the stock. Buckingham Research upgraded Owens Corning from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup assumed coverage on Owens Corning in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $71.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered Owens Corning from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $69.00 to $58.00 in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.15.
Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. Owens Corning’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. As a group, analysts anticipate that Owens Corning will post 4.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.22. Owens Corning’s payout ratio is currently 19.43%.
In other news, VP Ava Harter sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $63.25, for a total transaction of $316,250.00. Following the completion of the sale, the vice president now directly owns 38,425 shares in the company, valued at $2,430,381.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director W Howard Morris sold 1,000 shares of Owens Corning stock in a transaction on Friday, November 15th. The stock was sold at an average price of $65.16, for a total transaction of $65,160.00. Following the transaction, the director now directly owns 37,766 shares of the company’s stock, valued at approximately $2,460,832.56. The disclosure for this sale can be found here. Insiders have sold a total of 67,834 shares of company stock worth $4,248,079 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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