Gould Capital LLC Purchases 6,560 Shares of Owens Corning (NYSE:OC)

Gould Capital LLC grew its stake in shares of Owens Corning (NYSE:OC - Free Report) by 3,470.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,749 shares of the construction company's stock after buying an additional 6,560 shares during the period. Gould Capital LLC's holdings in Owens Corning were worth $1,191,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers increased its stake in Owens Corning by 196.2% in the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company's stock valued at $2,129,000 after acquiring an additional 8,456 shares during the period. Cetera Advisors LLC acquired a new position in Owens Corning during the first quarter worth $421,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Owens Corning by 13.0% during the second quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the construction company's stock valued at $263,000 after acquiring an additional 174 shares during the period. Cooper Financial Group acquired a new stake in shares of Owens Corning in the 2nd quarter valued at $200,000. Finally, M&G Plc grew its holdings in shares of Owens Corning by 4.7% in the 2nd quarter. M&G Plc now owns 54,815 shares of the construction company's stock worth $9,538,000 after purchasing an additional 2,466 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on OC. Wells Fargo & Company lifted their price objective on Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Finally, Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $193.67.

Owens Corning Stock Down 1.1 %

Shares of NYSE OC traded down $2.13 during mid-day trading on Tuesday, reaching $196.92. 766,818 shares of the company's stock were exchanged, compared to its average volume of 688,644. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $189.53 and a 200 day simple moving average of $177.51. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.26 and a beta of 1.42.

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

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a $0.69 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's payout ratio is currently 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.89% of the company's stock.

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.