Caisse DE Depot ET Placement DU Quebec Grows Position in Owens Corning (NYSE:OC)

Caisse DE Depot ET Placement DU Quebec lifted its holdings in Owens Corning (NYSE:OC) by 31.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 824,013 shares of the construction company’s stock after buying an additional 197,667 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.96% of Owens Corning worth $145,455,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OC. Price T Rowe Associates Inc. MD boosted its position in Owens Corning by 14.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after purchasing an additional 9,584 shares during the period. Janus Henderson Group PLC raised its stake in Owens Corning by 371.5% in the first quarter. Janus Henderson Group PLC now owns 35,355 shares of the construction company’s stock valued at $5,897,000 after purchasing an additional 27,856 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Owens Corning during the first quarter valued at approximately $305,000. Tidal Investments LLC grew its stake in Owens Corning by 76.1% in the 1st quarter. Tidal Investments LLC now owns 12,044 shares of the construction company’s stock worth $2,009,000 after buying an additional 5,205 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Owens Corning by 9.0% in the 1st quarter. Comerica Bank now owns 45,649 shares of the construction company’s stock worth $7,614,000 after buying an additional 3,769 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. UBS Group increased their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $206.03 on Friday. The stock has a 50-day moving average price of $185.57 and a 200 day moving average price of $176.27. The stock has a market capitalization of $17.67 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.29 and a beta of 1.41. Owens Corning has a 12-month low of $132.62 and a 12-month high of $214.53. 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 announced 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 period last year, the firm posted $4.15 EPS. The company’s revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

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.