Signaturefd LLC Sells 535 Shares of Owens Corning Inc $OC

Signaturefd LLC lowered its position in shares of Owens Corning Inc (NYSE:OC) by 34.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,004 shares of the construction company’s stock after selling 535 shares during the quarter. Signaturefd LLC’s holdings in Owens Corning were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its position in shares of Owens Corning by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company’s stock worth $234,000 after buying an additional 409 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Owens Corning by 11.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company’s stock worth $4,416,000 after purchasing an additional 3,298 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Owens Corning by 32.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 72,848 shares of the construction company’s stock worth $10,404,000 after purchasing an additional 17,660 shares during the period. Moran Wealth Management LLC raised its holdings in shares of Owens Corning by 31.4% in the 1st quarter. Moran Wealth Management LLC now owns 140,568 shares of the construction company’s stock worth $20,076,000 after purchasing an additional 33,631 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Owens Corning by 21.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company’s stock worth $1,245,000 after purchasing an additional 1,558 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a report on Saturday, September 27th. Evercore ISI lifted their price target on shares of Owens Corning from $165.00 to $169.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. UBS Group reduced their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Bank of America reduced their price objective on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Owens Corning Trading Down 1.6%

Owens Corning stock opened at $138.64 on Friday. The stock has a market cap of $11.59 billion, a P/E ratio of 36.01, a PEG ratio of 10.12 and a beta of 1.32. Owens Corning Inc has a fifty-two week low of $123.40 and a fifty-two week high of $214.53. The firm’s fifty day moving average price is $147.39 and its 200-day moving average price is $142.49. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.41. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.64 earnings per share. Equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be given a $0.69 dividend. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 2.0%. Owens Corning’s payout ratio is 71.69%.

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.