Owens Corning (NYSE:OC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in shares of Owens Corning (NYSE:OC) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,100 shares of the construction company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Owens Corning were worth $4,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. MV Capital Management Inc. boosted its position in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Owens Corning in the 1st quarter worth about $31,000. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the 2nd quarter worth about $32,000. Finally, Tobam boosted its position in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Down 0.8 %

Shares of OC stock opened at $181.90 on Friday. The firm has a market cap of $15.76 billion, a P/E ratio of 14.73, a PEG ratio of 2.24 and a beta of 1.41. Owens Corning has a 1-year low of $110.96 and a 1-year high of $191.44. 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 firm’s 50-day simple moving average is $172.47 and its 200-day simple moving average is $172.36.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.22 EPS. As a group, equities analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred 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 directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Barclays reduced their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada upped their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Evercore ISI upped their target price on shares of Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.77.

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.