Charles Schwab Investment Management Inc. Raises Stock Holdings in Owens Corning (NYSE:OC)

Charles Schwab Investment Management Inc. lifted its stake in Owens Corning (NYSE:OC - Free Report) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 593,154 shares of the construction company's stock after acquiring an additional 2,870 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Owens Corning worth $104,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock valued at $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Owens Corning by 18.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company's stock valued at $838,000 after buying an additional 743 shares during the period. Foundry Partners LLC acquired a new stake in Owens Corning during the third quarter worth about $611,000. Moran Wealth Management LLC raised its holdings in Owens Corning by 0.5% in the 3rd quarter. Moran Wealth Management LLC now owns 106,547 shares of the construction company's stock valued at $18,808,000 after acquiring an additional 534 shares in the last quarter. Finally, Commerce Bank grew its holdings in shares of Owens Corning by 13.8% during the 3rd quarter. Commerce Bank now owns 3,300 shares of the construction company's stock worth $583,000 after purchasing an additional 399 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on OC. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Wells Fargo & Company raised their price target on Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their target price on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $192.62.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

Owens Corning Stock Down 0.5 %

Shares of NYSE OC traded down $1.05 during trading hours on Wednesday, hitting $206.88. The company had a trading volume of 48,447 shares, compared to its average volume of 688,987. The firm's 50 day moving average is $183.63 and its 200-day moving average is $175.64. Owens Corning has a 1-year low of $131.67 and a 1-year high of $214.53. The stock has a market capitalization of $17.75 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.15 EPS. On average, analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning's dividend payout ratio (DPR) is currently 20.43%.

Owens Corning Company Profile

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.