Owens Corning (NYSE:OC) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in Owens Corning (NYSE:OC - Free Report) by 28.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 183,706 shares of the construction company's stock after selling 72,170 shares during the period. KBC Group NV owned about 0.21% of Owens Corning worth $32,428,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in OC. ST Germain D J Co. Inc. raised its holdings in Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company's stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new stake in Owens Corning during the 2nd quarter valued at approximately $32,000. Tobam lifted its position in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company's stock worth $33,000 after purchasing an additional 103 shares during the last quarter. Quarry LP lifted its position in shares of Owens Corning by 165.5% in 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 bought a new stake in shares of Owens Corning in the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Down 0.7 %

OC stock traded down $1.27 on Friday, reaching $193.99. The company's stock had a trading volume of 831,150 shares, compared to its average volume of 686,089. The business has a fifty day simple moving average of $178.38 and a two-hundred day simple moving average of $174.39. 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 firm has a market cap of $16.64 billion, a PE ratio of 16.62, a PEG ratio of 2.20 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 - Get Free Report) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. During the same period last year, the firm posted $4.15 earnings per share. The business's revenue for the quarter was up 22.9% on a year-over-year basis. As a group, research analysts forecast that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Wells Fargo & Company increased 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, 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 research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $192.62.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, 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 this link. 0.89% of the stock is currently owned by company insiders.

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.