Applied Finance Capital Management LLC Acquires 11,589 Shares of Owens Corning (NYSE:OC)

Applied Finance Capital Management LLC grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 581.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,583 shares of the construction company's stock after acquiring an additional 11,589 shares during the period. Applied Finance Capital Management LLC's holdings in Owens Corning were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company's stock worth $7,214,000 after acquiring an additional 20,971 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Owens Corning by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company's stock valued at $18,741,000 after buying an additional 14,011 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Owens Corning during the first quarter valued at about $997,000. Twin Tree Management LP lifted its position in shares of Owens Corning by 61.8% in the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company's stock valued at $1,501,000 after acquiring an additional 3,436 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in shares of Owens Corning during the first quarter worth about $539,000. Institutional investors own 88.40% of the company's stock.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction 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 completion of the sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 3,051 shares of the firm'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 directly owns 57,079 shares of the company's stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Trading Up 1.6 %

OC stock traded up $3.02 during mid-day trading on Friday, reaching $190.44. 796,320 shares of the stock traded hands, compared to its average volume of 697,772. The business has a 50-day moving average price of $175.83 and a two-hundred day moving average price of $173.68. The stock has a market capitalization of $16.56 billion, a PE ratio of 16.21, a PEG ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. Owens Corning has a one year low of $121.08 and a one year high of $193.93.

Owens Corning (NYSE:OC - Get Free Report) last issued 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 company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm posted $4.15 EPS. The firm's revenue was up 22.9% compared to the same quarter last year. Equities research analysts expect that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning's dividend payout ratio is currently 20.43%.

Analysts Set New Price Targets

A number of brokerages have issued reports on OC. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday. Barclays reduced their target price on Owens Corning from $190.00 to $189.00 and set an "equal weight" rating on the stock in a report on Friday, July 12th. Wells Fargo & Company increased their price target on Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average price target of $192.62.

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.