XTX Topco Ltd Raises Stock Holdings in Owens Corning (NYSE:OC)

XTX Topco Ltd grew its holdings in Owens Corning (NYSE:OC - Free Report) by 61.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,851 shares of the construction company's stock after buying an additional 3,736 shares during the period. XTX Topco Ltd's holdings in Owens Corning were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OC. Cetera Investment Advisers boosted its holdings in shares of Owens Corning by 196.2% in the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company's stock valued at $2,129,000 after acquiring an additional 8,456 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at approximately $421,000. QRG Capital Management Inc. raised its position in Owens Corning by 19.7% in the second quarter. QRG Capital Management Inc. now owns 17,067 shares of the construction company's stock worth $2,965,000 after acquiring an additional 2,811 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company's stock valued at $7,214,000 after acquiring an additional 20,971 shares during the period. Finally, LVW Advisors LLC boosted its position in shares of Owens Corning by 28.7% during the 2nd quarter. LVW Advisors LLC now owns 2,069 shares of the construction company's stock worth $359,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were 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 of the company's stock, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

OC has been the subject of a number of research analyst reports. Royal Bank of Canada increased 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. UBS Group boosted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research note 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 lifted their price target on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Seven 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, Owens Corning has a consensus rating of "Moderate Buy" and a consensus target price of $192.62.

Owens Corning Trading Up 0.9 %

Shares of OC traded up $1.75 on Friday, hitting $201.91. 466,578 shares of the stock traded hands, compared to its average volume of 739,347. The firm has a market capitalization of $17.32 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.27 and a beta of 1.42. 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 has a 1 year low of $138.26 and a 1 year high of $214.53. The stock's 50 day moving average is $189.08 and its two-hundred day moving average is $177.35.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.15 earnings per share. As a group, sell-side analysts predict that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently announced 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 represents a $2.76 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's payout ratio is presently 20.43%.

Owens Corning 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.