Centiva Capital LP Acquires 3,261 Shares of Owens Corning (NYSE:OC)

Centiva Capital LP increased its position in shares of Owens Corning (NYSE:OC - Free Report) by 68.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,040 shares of the construction company's stock after buying an additional 3,261 shares during the period. Centiva Capital LP's holdings in Owens Corning were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock valued at $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. boosted its position in shares of Owens Corning by 38.9% in the second 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 period. Panagora Asset Management Inc. lifted its position in Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company's stock worth $65,815,000 after purchasing an additional 365,853 shares during the period. Goldentree Asset Management LP bought a new stake in Owens Corning during the third quarter worth about $43,559,000. Finally, Kimelman & Baird LLC bought a new stake in Owens Corning during the second quarter worth about $35,970,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the 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 sale, the insider now directly owns 57,079 shares of the company's stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company's stock.

Owens Corning Trading Up 0.4 %

Shares of Owens Corning stock traded up $0.90 during midday trading on Wednesday, reaching $203.24. 675,966 shares of the company's stock traded hands, compared to its average volume of 689,689. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market cap of $17.43 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The stock has a 50 day moving average of $187.34 and a 200-day moving average of $176.84. Owens Corning has a 12 month low of $137.29 and a 12 month high of $214.53.

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 company 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 revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.15 earnings per share. As a group, equities analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. Owens Corning's dividend payout ratio is currently 20.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OC shares. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Wednesday, August 7th. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. StockNews.com raised Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note 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 note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Owens Corning currently has an average rating of "Moderate Buy" and an average target price 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.