Quadrature Capital Ltd Buys Shares of 6,213 Owens Corning (NYSE:OC)

Quadrature Capital Ltd acquired a new position in Owens Corning (NYSE:OC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,213 shares of the construction company's stock, valued at approximately $1,095,000.

Several other large investors also recently bought and sold shares of OC. Innealta Capital LLC acquired a new position in shares of Owens Corning during the 2nd quarter worth approximately $32,000. Tobam boosted its stake in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company's stock worth $33,000 after buying an additional 103 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Owens Corning in the 3rd quarter valued at $38,000. Quarry LP raised its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after acquiring an additional 144 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Owens Corning in the second quarter valued at about $48,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of a number of analyst reports. Wells Fargo & Company lifted 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 note on Thursday, November 7th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Finally, Evercore ISI upped their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.62.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company's stock.

Owens Corning Stock Up 0.9 %

Shares of Owens Corning stock traded up $1.75 on Friday, reaching $201.91. 466,578 shares of the company were exchanged, compared to its average volume of 739,347. The stock's 50 day moving average price is $189.08 and its 200-day moving average price is $177.35. The company has a market cap of $17.32 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 2.27 and a beta of 1.42. Owens Corning has a 1-year low of $138.26 and a 1-year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.15 EPS. As a group, equities analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a $0.69 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio is presently 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.