Owens Corning (NYSE:OC) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC grew its position in shares of Owens Corning (NYSE:OC - Free Report) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 506,882 shares of the construction company's stock after acquiring an additional 5,757 shares during the quarter. Empower Advisory Group LLC owned 0.58% of Owens Corning worth $89,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Owens Corning by 14.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company's stock worth $668,000 after purchasing an additional 519 shares during the period. Concurrent Investment Advisors LLC bought a new position in Owens Corning in the first quarter worth $252,000. Sei Investments Co. raised its holdings in Owens Corning by 42.1% in the first quarter. Sei Investments Co. now owns 94,182 shares of the construction company's stock worth $15,709,000 after purchasing an additional 27,888 shares in the last quarter. Headlands Technologies LLC raised its holdings in Owens Corning by 218.2% in the first quarter. Headlands Technologies LLC now owns 471 shares of the construction company's stock worth $79,000 after purchasing an additional 323 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Owens Corning by 7.6% in the first quarter. QRG Capital Management Inc. now owns 14,256 shares of the construction company's stock worth $2,378,000 after purchasing an additional 1,012 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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 owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 60,130 shares of the company's stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Owens Corning Stock Up 2.4 %

NYSE OC traded up $4.61 on Wednesday, reaching $195.28. 666,707 shares of the stock traded hands, compared to its average volume of 682,861. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 12 month low of $127.64 and a 12 month high of $197.58. The company has a fifty day moving average price of $176.94 and a 200-day moving average price of $174.09.

Owens Corning (NYSE:OC - Get Free Report) last announced its 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company posted $4.15 EPS. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning will post 15.39 EPS 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 issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. Owens Corning's dividend payout ratio is presently 20.43%.

Analysts Set New Price Targets

A number of research firms have recently commented on OC. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $192.62.

Owens Corning 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.