Owens Corning (NYSE:OC) Shares Sold by Fmr LLC

FMR LLC cut its stake in Owens Corning (NYSE:OC - Free Report) by 30.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 758,393 shares of the construction company's stock after selling 327,066 shares during the period. FMR LLC owned 0.88% of Owens Corning worth $133,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company's stock valued at $7,214,000 after purchasing an additional 20,971 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in shares of Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company's stock valued at $754,000 after purchasing an additional 2,544 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Owens Corning during the second quarter valued at approximately $3,598,000. Atria Investments Inc increased its stake in shares of Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock valued at $2,330,000 after purchasing an additional 6,373 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Owens Corning by 196.2% during the first quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company's stock valued at $2,129,000 after purchasing an additional 8,456 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the firm's stock in a transaction 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 sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OC shares. Royal Bank of Canada raised their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Seven 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.

Owens Corning Stock Up 0.4 %

NYSE:OC traded up $0.90 during midday trading on Wednesday, reaching $203.24. 675,966 shares of the stock traded hands, compared to its average volume of 689,689. Owens Corning has a 12-month low of $137.29 and a 12-month high of $214.53. The business has a 50-day moving average of $187.34 and a two-hundred day moving average of $176.84. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market capitalization of $17.43 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.15 EPS. On average, equities analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. Owens Corning's payout ratio is currently 20.43%.

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.