Owens Corning (NYSE:OC) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its holdings in shares of Owens Corning (NYSE:OC) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,838 shares of the construction company’s stock after selling 82 shares during the period. MainStreet Investment Advisors LLC’s holdings in Owens Corning were worth $667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis Advisors L.P. raised its position in shares of Owens Corning by 2.1% during the 4th quarter. Natixis Advisors L.P. now owns 16,291 shares of the construction company’s stock worth $2,414,000 after purchasing an additional 342 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Owens Corning by 16.3% in the fourth quarter. M&T Bank Corp now owns 4,481 shares of the construction company’s stock worth $664,000 after acquiring an additional 627 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Owens Corning in the fourth quarter valued at $296,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Owens Corning by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 594,132 shares of the construction company’s stock valued at $88,068,000 after acquiring an additional 3,111 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in Owens Corning during the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. In the last three months, insiders sold 6,240 shares of company stock worth $1,107,192. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Owens Corning stock opened at $157.15 on Friday. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 3.35 and a beta of 1.41. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock’s 50-day moving average is $168.14 and its 200-day moving average is $168.27.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.53%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Analyst Ratings Changes

OC has been the topic of a number of recent research reports. Loop Capital upped their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Royal Bank of Canada raised their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Finally, UBS Group lifted their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Company 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.