BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Holdings in Owens Corning (NYSE:OC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in Owens Corning (NYSE:OC) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,385 shares of the construction company’s stock after selling 14,819 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.28% of Owens Corning worth $43,139,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OC. ST Germain D J Co. Inc. grew its position in Owens Corning by 794.1% during the second 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 bought a new stake in Owens Corning in the second quarter worth $32,000. Tobam boosted 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 buying an additional 103 shares during the period. Quarry LP grew its stake in shares of 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 buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Owens Corning in the second quarter worth about $48,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 1.8 %

NYSE OC opened at $197.58 on Friday. The firm has a market capitalization of $16.95 billion, a PE ratio of 16.82, a P/E/G ratio of 2.18 and a beta of 1.41. The stock’s 50 day moving average is $182.02 and its 200 day moving average is $175.22. Owens Corning has a twelve month low of $130.91 and a twelve month high of $199.54. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.15 EPS. Research analysts forecast that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is 20.43%.

Owens Corning Company Profile

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.