Lazard Freres Gestion S.A.S. Raises Stock Holdings in Owens Corning (NYSE:OC)

Lazard Freres Gestion S.A.S. boosted its holdings in Owens Corning (NYSE:OC) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,680 shares of the construction company’s stock after purchasing an additional 380 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Owens Corning were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OC. ST Germain D J Co. Inc. grew its position in Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the period. Innealta Capital LLC purchased a new position in Owens Corning in the second quarter valued at about $32,000. Tobam grew its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Owens Corning during the 3rd quarter worth approximately $38,000. Finally, Quarry LP raised its holdings in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 1.2 %

NYSE:OC traded down $2.59 during mid-day trading on Tuesday, hitting $208.22. 34,990 shares of the stock traded hands, compared to its average volume of 688,402. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $183.63 and its two-hundred day moving average is $175.64. Owens Corning has a 52 week low of $131.67 and a 52 week high of $214.53. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.27 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results 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 return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $4.15 EPS. The business’s revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Dividend Announcement

The business 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. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.15%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OC shares. Wells Fargo & Company boosted their price objective 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. Evercore ISI upped their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Seven 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, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

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.