IFM Investors Pty Ltd Sells 4,713 Shares of Owens Corning (NYSE:OC)

IFM Investors Pty Ltd reduced its stake in shares of Owens Corning (NYSE:OC) by 18.5% in the third quarter, Holdings Channel reports. The firm owned 20,798 shares of the construction company’s stock after selling 4,713 shares during the period. IFM Investors Pty Ltd’s holdings in Owens Corning were worth $3,671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after buying an additional 20,971 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after purchasing an additional 14,011 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Owens Corning during the 1st quarter worth $997,000. Twin Tree Management LP raised its position in Owens Corning by 61.8% during the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after purchasing an additional 3,436 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in shares of Owens Corning in the 1st quarter worth $539,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OC. UBS Group lifted their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Evercore ISI increased their target price on Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.77.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Owens Corning Trading Down 0.8 %

Owens Corning stock opened at $181.90 on Friday. 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 stock has a market cap of $15.76 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The stock has a 50-day moving average of $172.47 and a two-hundred day moving average of $172.36. Owens Corning has a one year low of $110.96 and a one year high of $191.44.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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 during 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 was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $4.22 EPS. On average, research analysts anticipate that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company 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 $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is 19.43%.

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.