Alpha DNA Investment Management LLC Raises Stock Holdings in Owens Corning (NYSE:OC)

Alpha DNA Investment Management LLC increased its stake in shares of Owens Corning (NYSE:OCFree Report) by 147.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,270 shares of the construction company’s stock after purchasing an additional 2,544 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Owens Corning were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. raised its holdings in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. Innealta Capital LLC acquired a new position in Owens Corning in the second quarter valued at $32,000. Tobam lifted its position in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares during the period. Quarry LP boosted its stake in 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 buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Owens Corning in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $202.77 on Friday. The business’s 50-day simple moving average is $182.76 and its 200 day simple moving average is $175.40. The company has a market cap of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a one year low of $131.61 and a one year high of $203.40.

Owens Corning (NYSE:OCGet Free Report) last posted 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 company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $4.15 earnings per share. The business’s quarterly revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. 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 1.18%. Owens Corning’s payout ratio is currently 20.43%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OC shares. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

View Our Latest Analysis on OC

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Owens Corning Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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