Owens Corning (NYSE:OC) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its position in shares of Owens Corning (NYSE:OC - Free Report) by 55.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,600 shares of the construction company's stock after selling 14,500 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Owens Corning were worth $2,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Owens Corning during the 2nd quarter valued at about $32,000. Tobam boosted its stake in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company's stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Owens Corning in the third quarter worth about $38,000. Quarry LP increased its stake in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Owens Corning during the second quarter valued at approximately $48,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $1.75 during trading on Friday, reaching $201.91. 465,820 shares of the stock traded hands, compared to its average volume of 688,349. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.26 and a beta of 1.42. Owens Corning has a 52-week low of $138.26 and a 52-week high of $214.53. The business has a fifty day simple moving average of $188.52 and a two-hundred day simple moving average of $177.19.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.15 EPS. Sell-side analysts expect that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.37%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning's dividend payout ratio is currently 20.43%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company's 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 transaction, the insider now owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on OC shares. Wells Fargo & Company upped their price target 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. Royal Bank of Canada boosted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.62.

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.