Stifel Financial Corp Buys 9,936 Shares of Owens Corning (NYSE:OC)

Stifel Financial Corp raised its holdings in Owens Corning (NYSE:OC - Free Report) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,129 shares of the construction company's stock after buying an additional 9,936 shares during the period. Stifel Financial Corp owned about 0.06% of Owens Corning worth $9,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Owens Corning during the second quarter valued at about $32,000. Tobam lifted its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company's stock worth $33,000 after buying an additional 103 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Owens Corning in the 3rd quarter worth approximately $38,000. Quarry LP boosted its stake in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after buying an additional 144 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Owens Corning by 46.2% in the second quarter. Blue Trust Inc. now owns 367 shares of the construction company's stock valued at $61,000 after acquiring an additional 116 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares of the company's stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by corporate insiders.

Owens Corning Stock Performance

Shares of NYSE:OC traded down $4.19 during trading on Thursday, hitting $194.37. 655,719 shares of the company were exchanged, compared to its average volume of 692,500. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The stock has a 50 day moving average of $190.94 and a 200 day moving average of $177.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market cap of $16.67 billion, a PE ratio of 16.54, a P/E/G ratio of 2.26 and a beta of 1.42.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.15 EPS. As a group, equities research analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.42%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's payout ratio is currently 23.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OC. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $192.00 to $245.00 in a research note on Wednesday. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. UBS Group lifted their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.33.

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.