Owens Corning (NYSE:OC) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 54.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 523,001 shares of the construction company's stock after purchasing an additional 183,666 shares during the quarter. Victory Capital Management Inc. owned about 0.60% of Owens Corning worth $92,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Aptus Capital Advisors LLC increased its position in Owens Corning by 12.3% in the third quarter. Aptus Capital Advisors LLC now owns 53,547 shares of the construction company's stock worth $9,452,000 after purchasing an additional 5,844 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in Owens Corning by 7.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,784 shares of the construction company's stock worth $315,000 after buying an additional 116 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Owens Corning by 1.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 12,555 shares of the construction company's stock valued at $2,216,000 after purchasing an additional 121 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Owens Corning by 562.8% during the third quarter. Los Angeles Capital Management LLC now owns 72,621 shares of the construction company's stock worth $12,819,000 after buying an additional 61,664 shares in the last quarter. Finally, Atria Investments Inc grew its position in Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after buying an additional 6,373 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OC. Wells Fargo & Company upped their price objective 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. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company 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 research report on Saturday, November 9th. Royal Bank of Canada upped 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. Finally, UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.62.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction 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 transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company's stock.

Owens Corning Stock Down 0.3 %

Shares of NYSE:OC traded down $0.51 on Thursday, reaching $195.26. The company had a trading volume of 781,944 shares, compared to its average volume of 685,208. Owens Corning has a 52-week low of $128.79 and a 52-week high of $199.54. The firm has a market capitalization of $16.75 billion, a PE ratio of 16.66, a PEG ratio of 2.14 and a beta of 1.41. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm's 50 day simple moving average is $177.66 and its 200-day simple moving average is $174.25.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results 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 company had revenue of $3.05 billion during 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 firm's quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.15 earnings per share. As a group, analysts expect that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors 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 yield of 1.23%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning's dividend payout ratio (DPR) is presently 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.