Owens Corning (NYSE:OC) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its holdings in Owens Corning (NYSE:OC) by 39.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,159 shares of the construction company’s stock after selling 1,433 shares during the period. Sigma Planning Corp’s holdings in Owens Corning were worth $320,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Owens Corning by 0.9% in the 3rd quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock worth $307,800,000 after purchasing an additional 19,590 shares during the period. Invesco Ltd. raised its holdings in shares of Owens Corning by 156.1% in the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after purchasing an additional 906,782 shares during the period. Northern Trust Corp raised its holdings in shares of Owens Corning by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,014,106 shares of the construction company’s stock worth $138,334,000 after purchasing an additional 47,212 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after buying an additional 819,201 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Owens Corning by 15.1% during the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock valued at $106,556,000 after buying an additional 94,185 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OC has been the topic of several analyst reports. Barclays downgraded Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $170.00 to $160.00 in a report on Monday, February 12th. UBS Group raised their target price on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. dropped their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Loop Capital raised their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Argus raised their target price on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $168.21.

Owens Corning Stock Performance

Owens Corning stock opened at $168.50 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.17. Owens Corning has a 12 month low of $99.49 and a 12 month high of $173.65. The company has a fifty day moving average price of $159.88 and a two-hundred day moving average price of $146.41. The company has a market cap of $14.60 billion, a PE ratio of 13.64, a P/E/G ratio of 7.12 and a beta of 1.47.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm earned $2.77 earnings per share. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts expect that Owens Corning will post 14.74 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.42%. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 over the last 90 days. Insiders own 0.89% of the company’s stock.

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.