468,775 Shares in Owens Corning (NYSE:OC) Bought by Sarasin & Partners LLP

Sarasin & Partners LLP acquired a new stake in Owens Corning (NYSE:OC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 468,775 shares of the construction company's stock, valued at approximately $42,129,000. Sarasin & Partners LLP owned 0.52% of Owens Corning at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OC. Householder Group Estate & Retirement Specialist LLC purchased a new position in Owens Corning in the first quarter valued at approximately $27,000. Allworth Financial LP grew its stake in shares of Owens Corning by 87.8% during the 1st quarter. Allworth Financial LP now owns 353 shares of the construction company's stock worth $34,000 after acquiring an additional 165 shares during the period. Tobam purchased a new stake in Owens Corning in the 4th quarter worth about $31,000. Belpointe Asset Management LLC bought a new stake in Owens Corning in the 4th quarter valued at about $33,000. Finally, Compass Wealth Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $34,000. 93.43% of the stock is owned by hedge funds and other institutional investors.

OC traded up $0.30 on Friday, reaching $140.54. The company had a trading volume of 634,941 shares, compared to its average volume of 879,090. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.07. Owens Corning has a 52-week low of $74.22 and a 52-week high of $143.67. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.32 and a beta of 1.48. The business has a 50 day simple moving average of $126.57 and a 200 day simple moving average of $108.25.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.97. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter last year, the company posted $3.83 EPS. The business's quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens Corning will post 13.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Monday, July 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, July 14th. Owens Corning's payout ratio is currently 14.74%.

In other Owens Corning news, EVP Daniel T. Smith sold 3,670 shares of the company's stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $106.11, for a total value of $389,423.70. Following the completion of the sale, the executive vice president now owns 46,811 shares of the company's stock, valued at $4,967,115.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gunner Smith sold 6,900 shares of the business's stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $115.01, for a total value of $793,569.00. Following the completion of the sale, the insider now owns 31,153 shares of the company's stock, valued at approximately $3,582,906.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Daniel T. Smith sold 3,670 shares of the firm's stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $106.11, for a total value of $389,423.70. Following the transaction, the executive vice president now owns 46,811 shares in the company, valued at $4,967,115.21. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

OC has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Owens Corning from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 13th. JPMorgan Chase & Co. upgraded shares of Owens Corning from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $95.00 to $133.00 in a research note on Friday, July 28th. Argus raised their price target on Owens Corning from $120.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Owens Corning from $102.00 to $110.00 in a research report on Monday, May 1st. Finally, Bank of America raised their target price on Owens Corning from $127.00 to $152.00 in a research note on Friday, July 14th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average target price of $140.92.

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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