Lindenwold Advisors INC Purchases 97 Shares of Owens Corning (NYSE:OC)

Lindenwold Advisors INC lifted its position in shares of Owens Corning (NYSE:OC) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,168 shares of the construction company’s stock after purchasing an additional 97 shares during the period. Lindenwold Advisors INC’s holdings in Owens Corning were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Guys Formula LLC grew its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares in the last quarter. PFG Investments LLC grew its position in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after buying an additional 68 shares in the last quarter. Tobam increased its stake in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the period. First Bank & Trust raised its holdings in Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after acquiring an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OC shares. Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred 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 directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Owens Corning stock opened at $195.27 on Tuesday. The stock has a 50-day moving average price of $179.89 and a two-hundred day moving average price of $174.79. Owens Corning has a 12 month low of $129.24 and a 12 month high of $199.54. The company has a market capitalization of $16.75 billion, a PE ratio of 16.62, a P/E/G ratio of 2.18 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.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $4.15 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts expect that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. Owens Corning’s dividend payout ratio is 20.43%.

Owens Corning Company 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.