Atria Investments Inc Boosts Stake in Owens Corning (NYSE:OC)

Atria Investments Inc lifted its holdings in Owens Corning (NYSE:OC - Free Report) by 93.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,200 shares of the construction company's stock after buying an additional 6,373 shares during the period. Atria Investments Inc's holdings in Owens Corning were worth $2,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Owens Corning by 14.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company's stock worth $668,000 after purchasing an additional 519 shares during the period. Sei Investments Co. boosted its position in Owens Corning by 42.1% during the first quarter. Sei Investments Co. now owns 94,182 shares of the construction company's stock valued at $15,709,000 after buying an additional 27,888 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Owens Corning by 218.2% during the first quarter. Headlands Technologies LLC now owns 471 shares of the construction company's stock worth $79,000 after purchasing an additional 323 shares during the period. US Bancorp DE boosted its holdings in shares of Owens Corning by 27.0% during the first quarter. US Bancorp DE now owns 5,921 shares of the construction company's stock worth $988,000 after purchasing an additional 1,259 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company's stock worth $18,741,000 after buying an additional 14,011 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company's stock.

Owens Corning Stock Performance

OC stock traded down $0.91 on Friday, hitting $194.35. The company had a trading volume of 360,032 shares, compared to its average volume of 683,967. Owens Corning has a 12-month low of $128.79 and a 12-month high of $199.54. 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 stock's 50-day simple moving average is $178.38 and its 200 day simple moving average is $174.39. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.92% and a return on equity of 25.82%. The company's revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.15 EPS. As a group, equities research analysts expect that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning's dividend payout ratio is presently 20.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OC. UBS Group increased their price target 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. Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Finally, The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $192.62.

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.