Victory Capital Management Inc. Buys 183,666 Shares of Owens Corning (NYSE:OC)

Victory Capital Management Inc. grew its holdings in Owens Corning (NYSE:OC) by 54.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 approximately 0.60% of Owens Corning worth $92,320,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after purchasing an additional 20,971 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Owens Corning by 14.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Owens Corning in the 1st quarter valued at about $997,000. Twin Tree Management LP raised its holdings in shares of Owens Corning by 61.8% in the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after purchasing an additional 3,436 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Owens Corning by 22.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company’s stock valued at $21,710,000 after purchasing an additional 23,593 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 2.7 %

OC stock opened at $195.79 on Thursday. The firm’s fifty day simple moving average is $177.66 and its 200-day simple moving average is $174.25. The company has a market capitalization of $16.79 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.41. 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 has a 12 month low of $127.64 and a 12 month high of $197.58.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion for 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 business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.15 EPS. As a group, equities research 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. Stockholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Wall Street Analysts Forecast Growth

OC has been the subject of several recent analyst reports. Evercore ISI boosted 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. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Royal Bank of Canada boosted their price objective 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 objective 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. Finally, Wells Fargo & Company boosted 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 note 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

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.