Soltis Investment Advisors LLC Buys 211 Shares of Owens Corning (NYSE:OC)

Soltis Investment Advisors LLC boosted its position in shares of Owens Corning (NYSE:OC) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,700 shares of the construction company’s stock after purchasing an additional 211 shares during the period. Soltis Investment Advisors LLC’s holdings in Owens Corning were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortem Financial Group LLC grew its holdings in shares of Owens Corning by 8.6% during the third quarter. Fortem Financial Group LLC now owns 11,590 shares of the construction company’s stock worth $2,046,000 after buying an additional 914 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Owens Corning by 30.4% during the 3rd quarter. Toronto Dominion Bank now owns 11,023 shares of the construction company’s stock worth $1,946,000 after acquiring an additional 2,570 shares in the last quarter. TT International Asset Management LTD raised its holdings in shares of Owens Corning by 44.6% in the third quarter. TT International Asset Management LTD now owns 11,604 shares of the construction company’s stock valued at $2,048,000 after purchasing an additional 3,577 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Owens Corning in the third quarter worth $260,000. Finally, Gould Capital LLC boosted its holdings in Owens Corning by 3,470.9% during the third quarter. Gould Capital LLC now owns 6,749 shares of the construction company’s stock worth $1,191,000 after purchasing an additional 6,560 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $194.37 on Friday. The stock has a market cap of $16.67 billion, a PE ratio of 16.54, a P/E/G ratio of 2.22 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a 50-day moving average of $190.94 and a 200-day moving average of $177.88. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last released 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 net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm earned $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Analyst Ratings Changes

OC has been the topic of several recent research reports. 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. Wells Fargo & Company lifted their target price 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. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.33.

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.