Mason Street Advisors LLC Invests $3.61 Million in Owens Corning (NYSE:OC)

Share on StockTwits

Mason Street Advisors LLC bought a new position in shares of Owens Corning (NYSE:OC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 57,053 shares of the construction company’s stock, valued at approximately $3,606,000.

Several other large investors have also recently modified their holdings of the company. Boston Partners grew its holdings in Owens Corning by 0.8% during the second quarter. Boston Partners now owns 7,654,005 shares of the construction company’s stock worth $445,371,000 after buying an additional 60,275 shares in the last quarter. BlackRock Inc. grew its stake in Owens Corning by 1.7% in the 2nd quarter. BlackRock Inc. now owns 6,413,270 shares of the construction company’s stock valued at $373,253,000 after purchasing an additional 107,823 shares during the period. Victory Capital Management Inc. grew its stake in Owens Corning by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,896,979 shares of the construction company’s stock valued at $226,805,000 after purchasing an additional 335,925 shares during the period. HG Vora Capital Management LLC bought a new position in Owens Corning in the 2nd quarter valued at $221,160,000. Finally, Maverick Capital Ltd. grew its stake in Owens Corning by 82.5% in the 2nd quarter. Maverick Capital Ltd. now owns 3,507,466 shares of the construction company’s stock valued at $204,135,000 after purchasing an additional 1,585,968 shares during the period. 99.37% of the stock is currently owned by institutional investors.

Shares of OC stock traded up $0.39 on Wednesday, hitting $64.91. 18,505 shares of the stock were exchanged, compared to its average volume of 1,632,941. The company has a current ratio of 1.69, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $6.81 billion, a PE ratio of 13.14, a P/E/G ratio of 1.69 and a beta of 1.24. Owens Corning has a one year low of $40.64 and a one year high of $65.22. The firm’s 50 day moving average is $62.07 and its two-hundred day moving average is $56.11.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.54 EPS. On average, sell-side analysts expect that Owens Corning will post 4.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, October 11th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. Owens Corning’s payout ratio is 17.81%.

A number of research analysts have issued reports on the company. ValuEngine downgraded Owens Corning from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 24th. Buckingham Research upgraded Owens Corning from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 22nd. Argus upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, October 29th. Barclays upped their price objective on Owens Corning from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, BNP Paribas assumed coverage on Owens Corning in a research note on Wednesday, October 9th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.68.

In other news, Chairman Michael H. Thaman sold 50,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $62.00, for a total transaction of $3,100,000.00. Following the completion of the transaction, the chairman now owns 777,513 shares in the company, valued at approximately $48,205,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kelly Schmidt sold 1,589 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $60.53, for a total value of $96,182.17. Following the transaction, the vice president now owns 15,264 shares of the company’s stock, valued at approximately $923,929.92. The disclosure for this sale can be found here. Insiders have sold a total of 87,589 shares of company stock valued at $5,240,682 in the last quarter. 1.70% of the stock is owned by corporate insiders.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Featured Story: Why Invest in Dividend Achievers?

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.