Owens Corning (NYSE:OC) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of Owens Corning (NYSE:OC) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,914 shares of the construction company’s stock after selling 66 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Owens Corning were worth $514,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. ST Germain D J Co. Inc. lifted its position in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $32,000. Tobam boosted its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Quarry LP lifted its position in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Owens Corning in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price 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. UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Activity at Owens Corning

In related news, 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 represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

Owens Corning Stock Down 0.6 %

Shares of NYSE:OC opened at $194.09 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $129.24 and a 12-month high of $199.54. The company has a fifty day simple moving average of $180.62 and a 200 day simple moving average of $174.93. The firm has a market cap of $16.65 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41.

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

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were given 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%.

About Owens Corning

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.