Owens Corning (NYSE:OC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Owens Corning (NYSE:OC) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,025 shares of the construction company’s stock after selling 5,551 shares during the quarter. Intech Investment Management LLC’s holdings in Owens Corning were worth $4,947,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ST Germain D J Co. Inc. grew its stake in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. Innealta Capital LLC purchased a new position in Owens Corning in the second quarter valued at $32,000. Tobam increased its holdings in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Quarry LP raised its position in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Owens Corning during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on OC shares. UBS Group upped their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.62.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s 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 transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is owned by insiders.

Owens Corning Stock Up 2.6 %

Shares of NYSE:OC opened at $202.77 on Friday. Owens Corning has a 52-week low of $131.61 and a 52-week high of $203.40. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average of $182.76 and a two-hundred day moving average of $175.40. The stock has a market cap of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during 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%. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business earned $4.15 earnings per share. On average, research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

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.