Glenmede Trust Co. NA Grows Stock Holdings in Owens Corning (NYSE:OC)

Glenmede Trust Co. NA grew its holdings in Owens Corning (NYSE:OC) by 3.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,934 shares of the construction company’s stock after buying an additional 3,288 shares during the period. Glenmede Trust Co. NA owned approximately 0.11% of Owens Corning worth $16,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. Innealta Capital LLC purchased a new position in shares of Owens Corning during the second quarter valued at approximately $32,000. Tobam grew its stake in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Owens Corning in the third quarter worth approximately $38,000. Finally, Quarry LP lifted its stake in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group upped their target price 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, Evercore ISI lifted 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. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Price Performance

Shares of OC opened at $205.10 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company’s fifty day moving average price is $185.03 and its 200-day moving average price is $176.07. Owens Corning has a 1-year low of $131.67 and a 1-year high of $214.53. The firm has a market capitalization of $17.59 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $4.15 EPS. The company’s quarterly 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 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. Owens Corning’s dividend payout ratio is presently 20.43%.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Owens Corning 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.