Mediolanum International Funds Ltd Decreases Stock Position in Owens Corning (NYSE:OC)

Mediolanum International Funds Ltd reduced its position in Owens Corning (NYSE:OC - Free Report) by 20.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 42,670 shares of the construction company's stock after selling 10,944 shares during the period. Mediolanum International Funds Ltd's holdings in Owens Corning were worth $7,425,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Owens Corning by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company's stock worth $1,106,000 after purchasing an additional 608 shares in the last quarter. KRS Capital Management LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at $200,000. Dumont & Blake Investment Advisors LLC bought a new position in shares of Owens Corning in the 1st quarter valued at $440,000. LVW Advisors LLC acquired a new position in shares of Owens Corning during the 1st quarter worth $268,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Owens Corning by 9.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 160,899 shares of the construction company's stock valued at $26,838,000 after buying an additional 14,175 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the firm'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 transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction 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 sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 57,079 shares of the company's stock, valued at $10,074,443.50. The trade was 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 insiders.

Owens Corning Stock Performance

Owens Corning stock traded down $1.53 during mid-day trading on Friday, reaching $181.90. 596,818 shares of the company's stock were exchanged, compared to its average volume of 679,874. The business's fifty day simple moving average is $172.47 and its 200 day simple moving average is $172.36. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a one year low of $110.96 and a one year high of $191.44. The firm has a market capitalization of $15.76 billion, a PE ratio of 14.73, a P/E/G ratio of 2.24 and a beta of 1.41.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.27. The business 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%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.22 earnings per share. On average, sell-side analysts expect that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, October 18th. Owens Corning's payout ratio is 19.43%.

Analyst Ratings Changes

OC has been the topic of several recent research reports. Citigroup raised Owens Corning from a "neutral" rating to a "buy" rating and raised their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Evercore ISI boosted their price target on Owens Corning from $175.00 to $189.00 and gave the stock an "in-line" rating in a report on Wednesday, October 16th. UBS Group lifted their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on Owens Corning from $190.00 to $189.00 and set an "equal weight" rating for the company in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $187.77.

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.