Thrivent Financial for Lutherans Acquires 30,192 Shares of Owens Corning (NYSE:OC)

Thrivent Financial for Lutherans grew its stake in shares of Owens Corning (NYSE:OC - Free Report) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,352 shares of the construction company's stock after acquiring an additional 30,192 shares during the period. Thrivent Financial for Lutherans owned about 0.27% of Owens Corning worth $40,838,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OC. Point72 Asset Management L.P. increased its stake in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Owens Corning by 38.9% during the 2nd 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 in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of 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 valued at $65,815,000 after acquiring an additional 365,853 shares in the last quarter. Swedbank AB acquired a new position in shares of Owens Corning during the 1st quarter valued at $60,424,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Owens Corning during the 2nd quarter valued at $35,970,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

OC has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Royal Bank of Canada lifted their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Finally, Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven investment 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $192.62.

Owens Corning Price Performance

Shares of NYSE:OC traded down $1.02 during trading on Tuesday, hitting $194.28. 458,280 shares of the company were exchanged, compared to its average volume of 685,636. The business's 50 day moving average is $179.89 and its 200-day moving average is $174.79. Owens Corning has a 1-year low of $129.24 and a 1-year high of $199.54. The company has a market capitalization of $16.67 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's revenue 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. Equities analysts forecast that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, October 18th. Owens Corning's dividend payout ratio (DPR) is 20.43%.

About Owens Corning

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.