Hixon Zuercher LLC Invests $1.32 Million in Owens Corning (NYSE:OC)

Hixon Zuercher LLC purchased a new position in Owens Corning (NYSE:OC - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,477 shares of the construction company's stock, valued at approximately $1,320,000.

A number of other institutional investors and hedge funds have also modified their holdings of OC. Sequoia Financial Advisors LLC purchased a new stake in Owens Corning in the first quarter valued at about $223,000. Daiwa Securities Group Inc. raised its position in Owens Corning by 36.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,043 shares of the construction company's stock worth $2,175,000 after buying an additional 3,500 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Owens Corning during the 1st quarter worth $105,000. Mediolanum International Funds Ltd acquired a new stake in shares of Owens Corning in the first quarter worth approximately $4,314,000. Finally, Texas Permanent School Fund Corp grew its holdings in Owens Corning by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 77,782 shares of the construction company's stock valued at $12,974,000 after purchasing an additional 1,006 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of NYSE OC traded up $2.17 during trading hours on Wednesday, reaching $184.73. The stock had a trading volume of 1,451,393 shares, compared to its average volume of 681,859. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a twelve month low of $120.17 and a twelve month high of $191.44. The business's fifty day moving average is $174.60 and its two-hundred day moving average is $173.28.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period last year, the business earned $4.22 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.30%. Owens Corning's dividend payout ratio (DPR) is presently 20.32%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Citigroup upgraded Owens Corning from a "neutral" rating to a "buy" rating and upped their target price for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Evercore ISI raised their price target on shares of Owens Corning from $175.00 to $189.00 and gave the company an "in-line" rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $187.77.

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.