Systematic Financial Management LP Has $37.29 Million Stake in Owens Corning (NYSE:OC)

Systematic Financial Management LP lifted its position in Owens Corning (NYSE:OC - Free Report) by 13.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 211,221 shares of the construction company's stock after buying an additional 25,760 shares during the period. Owens Corning makes up 0.9% of Systematic Financial Management LP's holdings, making the stock its 24th largest position. Systematic Financial Management LP owned about 0.25% of Owens Corning worth $37,285,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in shares of Owens Corning during the third quarter worth $1,095,000. Quarry LP lifted its position in shares of Owens Corning by 168.0% in the 3rd quarter. Quarry LP now owns 619 shares of the construction company's stock valued at $109,000 after acquiring an additional 388 shares in the last quarter. Riposte Capital LLC acquired a new stake in shares of Owens Corning in the third quarter worth $10,591,000. Redwood Investment Management LLC grew its stake in Owens Corning by 4.1% during the 3rd quarter. Redwood Investment Management LLC now owns 8,346 shares of the construction company's stock valued at $1,455,000 after acquiring an additional 329 shares in the last quarter. Finally, Menard Financial Group LLC lifted its position in Owens Corning by 27.2% in the 3rd quarter. Menard Financial Group LLC now owns 2,192 shares of the construction company's stock worth $387,000 after buying an additional 469 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was 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 $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

OC has been the topic of several research reports. Evercore ISI upped their target price on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research report 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. The Goldman Sachs Group boosted their price target 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 Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Finally, Wells Fargo & Company upped their target price on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.62.

Owens Corning Stock Performance

Shares of NYSE OC traded down $3.16 during mid-day trading on Thursday, hitting $200.08. The company had a trading volume of 452,655 shares, compared to its average volume of 688,362. Owens Corning has a 12 month low of $138.26 and a 12 month high of $214.53. The firm has a market cap of $17.16 billion, a P/E ratio of 17.30, a PEG ratio of 2.26 and a beta of 1.42. The business's 50-day simple moving average is $188.00 and its 200-day simple moving average is $177.02. 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 released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 25.82% and a net margin of 9.92%. Owens Corning's quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.15 earnings per share. As a group, analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, October 18th. 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.