Owens Corning Inc $OC Stock Position Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Owens Corning Inc (NYSE:OC) by 109.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,900 shares of the construction company’s stock after purchasing an additional 14,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Owens Corning were worth $3,257,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. HM Payson & Co. lifted its position in Owens Corning by 203.6% in the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after buying an additional 112 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Owens Corning in the first quarter worth approximately $30,000. Fiduciary Financial Advisors bought a new position in Owens Corning during the second quarter valued at approximately $35,000. Root Financial Partners LLC grew its position in Owens Corning by 212.7% during the first quarter. Root Financial Partners LLC now owns 419 shares of the construction company’s stock valued at $45,000 after acquiring an additional 285 shares during the last quarter. Finally, NBH Bank bought a new position in Owens Corning during the second quarter valued at approximately $47,000. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider directly owned 21,449 shares in the company, valued at $3,090,157.43. This represents a 4.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on OC shares. Zacks Research downgraded shares of Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Bank of America cut their price objective on shares of Owens Corning from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Citigroup increased their target price on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. The Goldman Sachs Group decreased their target price on shares of Owens Corning from $169.00 to $128.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Finally, Wall Street Zen downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.07.

Owens Corning Price Performance

OC opened at $125.39 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $123.82 and its 200 day simple moving average is $126.15. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 3.42 and a beta of 1.32. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.21 earnings per share. As a group, analysts predict that Owens Corning Inc will post 9.39 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, October 19th. Owens Corning’s payout ratio is presently -39.21%.

Owens Corning Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.