Cozad Asset Management Inc. Boosts Stock Position in Owens Corning (NYSE:OC)

Cozad Asset Management Inc. raised its position in Owens Corning (NYSE:OC - Free Report) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,077 shares of the construction company's stock after purchasing an additional 6,147 shares during the period. Owens Corning accounts for 1.1% of Cozad Asset Management Inc.'s investment portfolio, making the stock its 24th largest holding. Cozad Asset Management Inc. owned approximately 0.07% of Owens Corning worth $11,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in 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 purchasing an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock valued at $128,772,000 after buying an additional 464,981 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Owens Corning by 6.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company's stock valued at $124,506,000 after buying an additional 43,180 shares in the last quarter. AustralianSuper Pty Ltd grew its position in shares of Owens Corning by 2.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company's stock valued at $102,665,000 after buying an additional 12,707 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake 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 in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

OC traded up $2.71 on Thursday, hitting $187.35. 402,804 shares of the company traded hands, compared to its average volume of 680,573. The company has a 50 day moving average of $174.98 and a 200-day moving average of $173.36. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $16.29 billion, a PE ratio of 15.83, a PEG ratio of 2.20 and a beta of 1.41. Owens Corning has a 12-month low of $120.17 and a 12-month high of $191.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.01 by $0.37. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business earned $4.15 EPS. The firm's revenue was up 22.9% compared to the same quarter last year. Sell-side analysts anticipate that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, October 18th. Owens Corning's payout ratio is 20.32%.

Analyst Ratings Changes

Several equities analysts have issued reports on OC shares. Wells Fargo & Company raised their price objective on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" 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 for the company in a report on Friday, July 12th. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their target price on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of "Hold" and an average price target of $192.62.

Insiders Place Their Bets

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

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.