Captrust Financial Advisors Grows Stock Position in Owens Corning (NYSE:OC)

Captrust Financial Advisors boosted its position in shares of Owens Corning (NYSE:OC - Free Report) by 20.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,113 shares of the construction company's stock after buying an additional 2,613 shares during the period. Captrust Financial Advisors' holdings in Owens Corning were worth $2,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after buying an additional 464,981 shares during the period. Pacer Advisors Inc. raised its stake in Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock valued at $276,655,000 after acquiring an additional 446,073 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Owens Corning by 2,813.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company's stock worth $65,815,000 after acquiring an additional 365,853 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Owens Corning in the 2nd quarter valued at approximately $35,970,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Owens Corning by 54.1% in the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company's stock valued at $92,320,000 after purchasing an additional 183,666 shares during the period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $1.75 on Friday, hitting $201.91. The company's stock had a trading volume of 465,820 shares, compared to its average volume of 688,349. The company has a market capitalization of $17.32 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42. Owens Corning has a 52-week low of $138.26 and a 52-week high of $214.53. The firm has a fifty day moving average price of $188.52 and a 200-day moving average price of $177.19. 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 quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the business earned $4.15 earnings per share. The company's quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a $0.69 dividend. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning's dividend payout ratio is currently 20.43%.

Analyst Ratings Changes

OC has been the subject of several recent research reports. Royal Bank of Canada increased 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. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. 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. Finally, Wells Fargo & Company boosted their target price on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $192.62.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.89% of the company's stock.

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.