Sanctuary Advisors LLC Acquires 8,775 Shares of Owens Corning (NYSE:OC)

Sanctuary Advisors LLC increased its stake in Owens Corning (NYSE:OC - Free Report) by 41.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,129 shares of the construction company's stock after acquiring an additional 8,775 shares during the quarter. Sanctuary Advisors LLC's holdings in Owens Corning were worth $5,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Owens Corning in the 2nd quarter worth approximately $32,000. Tobam grew its holdings in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company's stock valued at $33,000 after buying an additional 103 shares in the last quarter. Brooklyn Investment Group acquired a new position in Owens Corning during the third quarter valued at $38,000. Quarry LP lifted its stake in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Owens Corning by 46.2% during the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company's stock worth $61,000 after acquiring an additional 116 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,051 shares of the business's stock in a transaction dated 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 directly owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $198.33.

Owens Corning Stock Performance

Shares of Owens Corning stock traded down $6.13 on Monday, reaching $185.27. The stock had a trading volume of 1,364,536 shares, compared to its average volume of 694,954. 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 business's 50-day moving average price is $191.33 and its two-hundred day moving average price is $177.98. The stock has a market cap of $15.89 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $4.15 earnings per share. The firm's revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, January 6th. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.49%. Owens Corning's payout ratio is 20.43%.

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.