Wells Fargo & Company MN lifted its stake in Owens Corning (NYSE:OC) by 46.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,981,084 shares of the construction company’s stock after acquiring an additional 947,108 shares during the period. Wells Fargo & Company MN’s holdings in Owens Corning were worth $161,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Zacks Investment Management increased its holdings in Owens Corning by 4.9% in the 2nd quarter. Zacks Investment Management now owns 18,662 shares of the construction company’s stock worth $1,183,000 after buying an additional 880 shares during the period. Rothschild Investment Corp IL increased its holdings in Owens Corning by 1.2% in the 2nd quarter. Rothschild Investment Corp IL now owns 74,406 shares of the construction company’s stock worth $4,715,000 after buying an additional 905 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in Owens Corning by 10.3% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 9,802 shares of the construction company’s stock worth $621,000 after buying an additional 912 shares during the period. Vident Investment Advisory LLC increased its holdings in Owens Corning by 2.8% in the 2nd quarter. Vident Investment Advisory LLC now owns 37,334 shares of the construction company’s stock worth $2,366,000 after buying an additional 1,028 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Owens Corning by 22.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,957 shares of the construction company’s stock worth $479,000 after buying an additional 1,102 shares during the period. 94.89% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on OC shares. Longbow Research reiterated a “buy” rating on shares of Owens Corning in a report on Monday, September 24th. Bank of America downgraded shares of Owens Corning from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 23rd. Goldman Sachs Group started coverage on shares of Owens Corning in a report on Tuesday, October 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Seaport Global Securities downgraded shares of Owens Corning from a “buy” rating to a “neutral” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded shares of Owens Corning from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $74.94.

In other news, Director W Howard Morris sold 1,514 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total transaction of $88,523.58. Following the sale, the director now owns 36,332 shares of the company’s stock, valued at approximately $2,124,332.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Shares of NYSE OC opened at $47.37 on Friday. The company has a market cap of $5.40 billion, a PE ratio of 10.77, a PEG ratio of 0.77 and a beta of 1.14. Owens Corning has a 12 month low of $42.88 and a 12 month high of $96.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 1.62.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.11). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.89 billion. Owens Corning had a return on equity of 12.37% and a net margin of 5.33%. Owens Corning’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, analysts forecast that Owens Corning will post 4.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Tuesday, October 16th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Owens Corning’s payout ratio is 19.09%.

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About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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

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