Owens Corning (NYSE:OC) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP reduced its position in Owens Corning (NYSE:OC - Free Report) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,314 shares of the construction company's stock after selling 4,717 shares during the quarter. Quantinno Capital Management LP owned about 0.05% of Owens Corning worth $7,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OC. Point72 Asset Management L.P. grew its holdings in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after purchasing an additional 464,981 shares during the period. Pacer Advisors Inc. increased its position in shares of Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock worth $276,655,000 after acquiring an additional 446,073 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company's stock valued at $65,815,000 after acquiring an additional 365,853 shares during the period. Goldentree Asset Management LP acquired a new position in shares of Owens Corning during the 3rd quarter valued at $43,559,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Owens Corning during the 2nd quarter valued at $35,970,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on 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 directly owns 57,079 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.89% of the company's stock.

Owens Corning Stock Up 0.9 %

NYSE:OC traded up $1.75 during mid-day trading on Friday, reaching $201.91. The stock had a trading volume of 465,820 shares, 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 price-to-earnings-growth ratio of 2.26 and a beta of 1.42. Owens Corning has a 1-year low of $138.26 and a 1-year high of $214.53. The stock's 50 day simple moving average is $188.52 and its two-hundred day simple moving average is $177.19.

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, 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 during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm earned $4.15 EPS. The business's revenue was up 22.9% on a year-over-year basis. Equities analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a $0.69 dividend. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, January 6th. Owens Corning's dividend payout ratio (DPR) is presently 20.43%.

Wall Street Analyst Weigh In

Several research analysts have commented on OC shares. StockNews.com raised Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. The Goldman Sachs Group raised their target price on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research report 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 boosted 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.