Owens Corning (NYSE:OC) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd trimmed its position in shares of Owens Corning (NYSE:OC - Free Report) by 33.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,027 shares of the construction company's stock after selling 5,592 shares during the quarter. Point72 DIFC Ltd's holdings in Owens Corning were worth $1,946,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Menard Financial Group LLC increased its position in shares of Owens Corning by 27.2% during the third quarter. Menard Financial Group LLC now owns 2,192 shares of the construction company's stock worth $387,000 after purchasing an additional 469 shares in the last quarter. Millburn Ridgefield Corp boosted its stake in Owens Corning by 1,174.4% during the third quarter. Millburn Ridgefield Corp now owns 1,096 shares of the construction company's stock worth $193,000 after buying an additional 1,010 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Owens Corning during the third quarter worth $715,000. Janus Henderson Group PLC boosted its stake in Owens Corning by 3.1% during the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock worth $1,189,000 after buying an additional 200 shares during the last quarter. Finally, Harmony Asset Management LLC acquired a new position in Owens Corning during the third quarter worth $541,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI boosted 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. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.62.

Owens Corning Trading Down 1.5 %

OC traded down $3.08 during mid-day trading on Thursday, hitting $200.16. 582,346 shares of the stock were exchanged, compared to its average volume of 689,294. The firm's fifty day moving average is $188.00 and its two-hundred day moving average is $177.02. Owens Corning has a 1-year low of $138.26 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.17 billion, a PE ratio of 17.03, a PEG ratio of 2.26 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 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 company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $4.15 EPS. Owens Corning's revenue was up 22.9% on a year-over-year basis. Equities analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio is presently 20.43%.

Insider Activity

In related 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 value 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. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.89% of the company's stock.

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.