Principal Financial Group Inc. Has $36.62 Million Stock Holdings in Owens Corning (NYSE:OC)

Principal Financial Group Inc. lessened its stake in shares of Owens Corning (NYSE:OC - Free Report) by 31.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 207,479 shares of the construction company's stock after selling 96,141 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Owens Corning worth $36,624,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Owens Corning by 14.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,002 shares of the construction company's stock worth $668,000 after acquiring an additional 519 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Owens Corning during the first quarter valued at $252,000. Sei Investments Co. lifted its position in shares of Owens Corning by 42.1% during the 1st quarter. Sei Investments Co. now owns 94,182 shares of the construction company's stock worth $15,709,000 after purchasing an additional 27,888 shares during the last quarter. NorthRock Partners LLC grew its position in Owens Corning by 14.6% during the 1st quarter. NorthRock Partners LLC now owns 1,574 shares of the construction company's stock worth $263,000 after acquiring an additional 200 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Owens Corning by 218.2% in the 1st quarter. Headlands Technologies LLC now owns 471 shares of the construction company's stock valued at $79,000 after buying an additional 323 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 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 shares were 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company's stock, 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. 0.89% of the stock is currently owned by insiders.

Owens Corning Stock Down 1.1 %

OC traded down $2.08 during trading on Tuesday, hitting $191.38. The company had a trading volume of 356,554 shares, compared to its average volume of 681,569. Owens Corning has a 1-year low of $123.10 and a 1-year high of $197.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.79. The company has a market cap of $16.42 billion, a PE ratio of 16.46, a P/E/G ratio of 2.35 and a beta of 1.41. The business has a 50-day moving average of $176.32 and a 200-day moving average of $173.94.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the previous year, the company posted $4.15 EPS. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, analysts forecast that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning's payout ratio is 20.43%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OC. Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. StockNews.com raised Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore ISI upped their target price on Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.