Public Employees Retirement System of Ohio Has $8.52 Million Holdings in Owens Corning (NYSE:OC)

Public Employees Retirement System of Ohio reduced its stake in shares of Owens Corning (NYSE:OC - Free Report) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,257 shares of the construction company's stock after selling 4,444 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Owens Corning worth $8,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Owens Corning in the 2nd quarter valued at $32,000. Tobam raised its holdings in shares of Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company's stock valued at $33,000 after buying an additional 103 shares during the last quarter. Brooklyn Investment Group acquired a new position in Owens Corning during the 3rd quarter worth about $38,000. Quarry LP grew its holdings in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after acquiring an additional 144 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Owens Corning by 46.2% in the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company's stock valued at $61,000 after acquiring an additional 116 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 completion of the transaction, the insider now owns 57,079 shares of the company's stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OC shares. UBS Group increased their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays raised Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $192.00 to $245.00 in a research note on Wednesday. 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. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Finally, Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $198.33.

Owens Corning Stock Down 1.5 %

NYSE OC traded down $2.96 on Friday, reaching $191.41. The company had a trading volume of 614,655 shares, compared to its average volume of 692,177. The company's fifty day moving average is $190.94 and its 200-day moving average is $177.88. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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. The company had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $4.15 EPS. On average, research 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 paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase 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%.

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.