Freemont Management S.A. Acquires Shares of 9,000 Owens Corning (NYSE:OC)

Freemont Management S.A. purchased a new stake in Owens Corning (NYSE:OC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,000 shares of the construction company's stock, valued at approximately $1,589,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ST Germain D J Co. Inc. raised its holdings in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company's stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the 2nd quarter valued at about $32,000. Tobam raised its holdings in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. Quarry LP raised its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after buying an additional 144 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Owens Corning during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Trading Down 0.3 %

Shares of OC stock traded down $0.51 during trading hours on Thursday, reaching $195.26. The company's stock had a trading volume of 781,844 shares, compared to its average volume of 685,215. The stock has a market capitalization of $16.75 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.14 and a beta of 1.41. Owens Corning has a one year low of $128.79 and a one year high of $199.54. The firm's fifty day simple moving average is $178.38 and its 200 day simple moving average is $174.39. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $4.15 EPS. Equities research analysts expect that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. 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%.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OC has been the topic of a number of research reports. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $192.62.

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.