Y Intercept Hong Kong Ltd Cuts Stake in Owens Corning (NYSE:OC)

Y Intercept Hong Kong Ltd lessened its position in Owens Corning (NYSE:OC - Free Report) by 83.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,451 shares of the construction company's stock after selling 7,083 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Owens Corning were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in OC. Retirement Guys Formula LLC grew its holdings in Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock worth $342,000 after purchasing an additional 58 shares during the period. PFG Investments LLC grew its stake in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock worth $323,000 after buying an additional 68 shares during the last quarter. Tobam increased its position in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after buying an additional 73 shares in the last quarter. First Bank & Trust raised its stake in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock valued at $646,000 after buying an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC boosted its holdings in Owens Corning by 1.5% in the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company's stock worth $959,000 after acquiring an additional 80 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

Shares of OC traded down $4.94 during trading hours on Thursday, hitting $169.50. The stock had a trading volume of 1,192,595 shares, compared to its average volume of 701,155. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock has a fifty day moving average price of $191.15 and a 200 day moving average price of $177.96. 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 firm has a market capitalization of $14.54 billion, a PE ratio of 14.43, a PEG ratio of 2.14 and a beta of 1.42.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The business 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 business's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.15 EPS. Analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, January 6th. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.63%. Owens Corning's payout ratio is 23.49%.

Analyst Ratings Changes

OC has been the subject of several analyst reports. Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. 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 report on Thursday, November 7th. UBS Group upped their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $200.83.

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.