Sigma Planning Corp Sells 228 Shares of Owens Corning (NYSE:OC)

Sigma Planning Corp cut its stake in shares of Owens Corning (NYSE:OC) by 15.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,272 shares of the construction company’s stock after selling 228 shares during the quarter. Sigma Planning Corp’s holdings in Owens Corning were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. Pacer Advisors Inc. increased its stake in Owens Corning by 38.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of Owens Corning by 6.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after purchasing an additional 43,180 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in Owens Corning by 2.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after purchasing an additional 12,707 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $193.99 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average price is $179.12 and its 200-day moving average price is $174.64. The firm has a market cap of $16.64 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.18 and a beta of 1.41. Owens Corning has a 12 month low of $128.79 and a 12 month high of $199.54.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $4.15 earnings per share. On average, equities research analysts expect that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is currently 20.43%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OC. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was 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 $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.89% of the company’s stock.

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.