Assenagon Asset Management S.A. Reduces Position in Owens Corning (NYSE:OC)

Assenagon Asset Management S.A. reduced its holdings in Owens Corning (NYSE:OC - Free Report) by 52.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,510 shares of the construction company's stock after selling 37,916 shares during the period. Assenagon Asset Management S.A.'s holdings in Owens Corning were worth $6,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MV Capital Management Inc. raised its position in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. 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. ORG Partners LLC acquired a new stake in shares of Owens Corning in the first quarter worth approximately $31,000. Innealta Capital LLC purchased a new stake in shares of Owens Corning during the second quarter worth approximately $32,000. Finally, Tobam lifted its holdings in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company's stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was 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 $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of the business's stock in a transaction 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 transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OC shares. Barclays dropped their target price on shares of Owens Corning from $190.00 to $189.00 and set an "equal weight" rating for the company in a report on Friday, July 12th. Evercore ISI increased their price objective on shares of Owens Corning from $175.00 to $189.00 and gave the company an "in-line" rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on Owens Corning from $165.00 to $175.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Citigroup upgraded Owens Corning from a "neutral" rating to a "buy" rating and upped their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $187.77.

Owens Corning Trading Down 2.1 %

Shares of NYSE OC traded down $3.92 during trading on Tuesday, reaching $181.13. The stock had a trading volume of 663,151 shares, compared to its average volume of 678,807. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $15.75 billion, a P/E ratio of 15.67, a PEG ratio of 2.23 and a beta of 1.41. Owens Corning has a fifty-two week low of $111.57 and a fifty-two week high of $191.44. The business's 50-day moving average price is $172.92 and its 200-day moving average price is $172.54.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.33%. Owens Corning's dividend payout ratio is presently 20.32%.

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.