Riposte Capital LLC Takes Position in Owens Corning (NYSE:OC)

Riposte Capital LLC acquired a new stake in Owens Corning (NYSE:OC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the construction company’s stock, valued at approximately $10,591,000. Owens Corning accounts for 1.2% of Riposte Capital LLC’s investment portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the second quarter valued at $32,000. Tobam grew its position in 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 acquiring an additional 103 shares during the period. Brooklyn Investment Group purchased a new stake in Owens Corning during the third quarter valued at about $38,000. Quarry LP grew its position in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Finally, Friedenthal Financial purchased a new stake in Owens Corning during the second quarter valued at about $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

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 transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” 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. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Up 0.4 %

NYSE:OC opened at $203.24 on Thursday. 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 $137.29 and a one year high of $214.53. The business’s 50-day simple moving average is $187.34 and its 200 day simple moving average is $176.84. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping 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 analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the firm posted $4.15 earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. As a group, sell-side analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is currently 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.