Quantinno Capital Management LP Has $7.82 Million Holdings in Owens Corning (NYSE:OC)

Quantinno Capital Management LP lessened its stake in Owens Corning (NYSE:OC) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,314 shares of the construction company’s stock after selling 4,717 shares during the quarter. Quantinno Capital Management LP’s holdings in Owens Corning were worth $7,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after buying an additional 20,971 shares during the period. Alpha DNA Investment Management LLC grew its position in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Owens Corning during the 2nd quarter worth approximately $3,598,000. Atria Investments Inc grew its position in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Owens Corning by 196.2% during the 1st quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after buying an additional 8,456 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $200.16 on Friday. 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 twelve month low of $138.26 and a twelve month high of $214.53. The firm’s 50 day moving average price is $188.00 and its two-hundred day moving average price is $177.02. The firm has a market cap of $17.17 billion, a P/E ratio of 17.03, a PEG ratio of 2.26 and a beta of 1.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share 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 firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $4.15 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. On average, analysts forecast that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s payout ratio is currently 20.43%.

Wall Street Analyst Weigh In

OC has been the subject of several analyst reports. Wells Fargo & Company lifted their price target 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. Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Royal Bank of Canada lifted their price objective on shares of 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 lifted their price objective on shares of 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 given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by insiders.

Owens Corning 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.