Owens Corning (NYSE:OC) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd reduced its holdings in Owens Corning (NYSE:OC - Free Report) by 18.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Retirement Guys Formula LLC increased its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock valued at $342,000 after purchasing an additional 58 shares during the last quarter. Tobam increased its position in Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Bessemer Group Inc. increased its position in Owens Corning by 24.9% during the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company's stock valued at $65,000 after acquiring an additional 78 shares during the last quarter. MV Capital Management Inc. lifted its holdings in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Finally, KMG Fiduciary Partners LLC lifted its holdings in shares of Owens Corning by 1.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company's stock worth $959,000 after acquiring an additional 80 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on Owens Corning from $211.00 to $213.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Owens Corning from $165.00 to $175.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Barclays cut their price objective on Owens Corning from $190.00 to $189.00 and set an "equal weight" rating on the stock in a research report on Friday, July 12th. Finally, Evercore ISI lifted their target price on Owens Corning from $175.00 to $189.00 and gave the stock 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $187.77.

Owens Corning Stock Down 0.8 %

NYSE OC traded down $1.53 during trading on Friday, reaching $181.90. 596,818 shares of the company's stock traded hands, compared to its average volume of 679,874. Owens Corning has a 12-month low of $110.96 and a 12-month high of $191.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company's 50 day simple moving average is $172.47 and its two-hundred day simple moving average is $172.41.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts' consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business earned $4.22 earnings per share. Owens Corning's revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Owens Corning will post 15.34 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company's 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 transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related 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 sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the firm'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 transaction, the insider now directly owns 57,079 shares of the company's stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

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.