Owens Corning (NYSE:OC) Stock Holdings Lessened by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in Owens Corning (NYSE:OC) by 13.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,103 shares of the construction company’s stock after selling 2,579 shares during the period. Toronto Dominion Bank’s holdings in Owens Corning were worth $995,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Atria Investments LLC grew its holdings in Owens Corning by 35.7% during the second quarter. Atria Investments LLC now owns 5,849 shares of the construction company’s stock valued at $313,000 after purchasing an additional 1,540 shares during the last quarter. Nomura Holdings Inc. grew its holdings in Owens Corning by 274.9% during the second quarter. Nomura Holdings Inc. now owns 40,587 shares of the construction company’s stock valued at $2,375,000 after purchasing an additional 63,788 shares during the last quarter. BlackRock Inc. grew its stake in shares of Owens Corning by 1.7% in the second quarter. BlackRock Inc. now owns 6,413,270 shares of the construction company’s stock worth $373,253,000 after acquiring an additional 107,823 shares during the last quarter. HG Vora Capital Management LLC acquired a new stake in shares of Owens Corning in the second quarter worth $221,160,000. Finally, Maverick Capital Ltd. grew its stake in shares of Owens Corning by 82.5% in the second quarter. Maverick Capital Ltd. now owns 3,507,466 shares of the construction company’s stock worth $204,135,000 after acquiring an additional 1,585,968 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Several equities research analysts have recently issued reports on OC shares. SunTrust Banks raised their price objective on shares of Owens Corning to $58.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. ValuEngine downgraded shares of Owens Corning from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Seaport Global Securities upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating in a research note on Thursday, June 27th. Bank of America upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $72.00 in a research note on Thursday, June 27th. Finally, Barclays restated a “buy” rating and issued a $65.00 price objective on shares of Owens Corning in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Owens Corning presently has a consensus rating of “Hold” and a consensus price target of $56.77.

In related news, VP Ava Harter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $54.84, for a total value of $109,680.00. Following the completion of the transaction, the vice president now directly owns 43,388 shares of the company’s stock, valued at $2,379,397.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director W Howard Morris sold 2,773 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $54.69, for a total value of $151,655.37. Following the completion of the transaction, the director now directly owns 37,090 shares of the company’s stock, valued at $2,028,452.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,362 shares of company stock valued at $2,402,018. 1.70% of the stock is owned by company insiders.

Shares of Owens Corning stock traded up $0.71 during midday trading on Wednesday, hitting $60.06. The company had a trading volume of 953 shares, compared to its average volume of 1,649,437. The business’s 50 day simple moving average is $58.86 and its two-hundred day simple moving average is $54.04. The stock has a market cap of $6.52 billion, a PE ratio of 12.12, a P/E/G ratio of 1.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.69 and a quick ratio of 0.89. Owens Corning has a 1-year low of $40.64 and a 1-year high of $63.61.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.13 by $0.18. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Owens Corning had a return on equity of 12.18% and a net margin of 7.21%. Owens Corning’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.17 earnings per share. On average, sell-side analysts expect that Owens Corning will post 4.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Tuesday, October 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.88 annualized dividend and a yield of 1.47%. Owens Corning’s dividend payout ratio (DPR) is currently 17.81%.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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