Axa S.A. Sells 28,723 Shares of Owens Corning (NYSE:OC)

Axa S.A. trimmed its position in shares of Owens Corning (NYSE:OC) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,655 shares of the construction company’s stock after selling 28,723 shares during the period. Axa S.A. owned approximately 0.15% of Owens Corning worth $23,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. increased its stake in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. ST Germain D J Co. Inc. boosted its holdings 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 purchasing an additional 135 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning during the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Owens Corning during the first quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning during the first quarter valued at approximately $31,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 2.2 %

NYSE:OC opened at $173.99 on Friday. The stock’s fifty day moving average price is $167.43 and its two-hundred day moving average price is $169.95. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business earned $4.22 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on 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 sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Evercore ISI decreased their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.23.

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.