Owens Corning (NYSE:OC) Stock Holdings Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in Owens Corning (NYSE:OCGet Rating) by 8.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,276 shares of the construction company’s stock after selling 499 shares during the period. Advisors Asset Management Inc.’s holdings in Owens Corning were worth $392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OC. Signaturefd LLC grew its position in shares of Owens Corning by 36.1% during the 1st quarter. Signaturefd LLC now owns 1,006 shares of the construction company’s stock valued at $92,000 after buying an additional 267 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Owens Corning during the 1st quarter valued at about $37,000. FDx Advisors Inc. grew its position in shares of Owens Corning by 15.1% during the 1st quarter. FDx Advisors Inc. now owns 3,453 shares of the construction company’s stock valued at $316,000 after buying an additional 452 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Owens Corning by 5.6% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 55,269 shares of the construction company’s stock valued at $5,057,000 after buying an additional 2,943 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Owens Corning during the 1st quarter valued at about $244,000. Institutional investors own 93.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Owens Corning from $103.00 to $99.00 and set a “hold” rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $83.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Citigroup boosted their target price on shares of Owens Corning from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, October 10th. Bank of America raised shares of Owens Corning from an “underperform” rating to a “buy” rating and boosted their target price for the company from $82.00 to $95.00 in a research note on Tuesday, October 18th. Finally, Credit Suisse Group reduced their target price on shares of Owens Corning from $98.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, October 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.79.

Owens Corning Stock Up 0.8 %

NYSE OC opened at $90.06 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.11. The company’s 50 day simple moving average is $84.30 and its 200 day simple moving average is $85.70. Owens Corning has a 12 month low of $72.97 and a 12 month high of $101.12. The company has a market capitalization of $8.42 billion, a P/E ratio of 6.63, a PEG ratio of 0.64 and a beta of 1.45.

Owens Corning (NYSE:OCGet Rating) last released its earnings results on Wednesday, October 26th. The construction company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.38. Owens Corning had a net margin of 13.99% and a return on equity of 27.52%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Owens Corning will post 12.67 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Investors of record on Monday, October 17th were issued a $0.35 dividend. The ex-dividend date was Friday, October 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.55%. Owens Corning’s payout ratio is currently 10.30%.

Insider Buying and Selling

In other news, CEO Brian Chambers sold 7,600 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $80.80, for a total transaction of $614,080.00. Following the sale, the chief executive officer now owns 183,384 shares in the company, valued at $14,817,427.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brian Chambers sold 7,600 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $80.80, for a total transaction of $614,080.00. Following the sale, the chief executive officer now owns 183,384 shares in the company, valued at $14,817,427.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $83.12, for a total transaction of $224,424.00. Following the sale, the insider now owns 24,460 shares in the company, valued at approximately $2,033,115.20. The disclosure for this sale can be found here. Insiders have sold 10,701 shares of company stock worth $872,192 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

About Owens Corning

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Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, 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.

See Also

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

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