Jacobs Levy Equity Management Inc. Makes New $715,000 Investment in Owens Corning (NYSE:OC)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Owens Corning (NYSE:OC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,049 shares of the construction company's stock, valued at approximately $715,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Owens Corning during the 2nd quarter valued at approximately $32,000. Tobam increased 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 purchasing an additional 103 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the 3rd quarter valued at approximately $38,000. Quarry LP increased 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 purchasing 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 approximately $48,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of Owens Corning stock traded down $2.13 during trading hours on Tuesday, reaching $196.92. 766,818 shares of the company's stock were exchanged, compared to its average volume of 688,644. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a market capitalization of $16.89 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42. The business has a fifty day moving average of $189.98 and a two-hundred day moving average of $177.62. 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 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 net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the firm earned $4.15 earnings per share. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, research analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This is a boost from Owens Corning's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.40%. Owens Corning's payout ratio is presently 23.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OC. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.67.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company's stock, valued at $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.