Owens Corning (NYSE:OC) Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in Owens Corning (NYSE:OC) by 33.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,600 shares of the construction company’s stock after selling 42,200 shares during the period. Andra AP fonden owned approximately 0.10% of Owens Corning worth $14,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of OC. United Services Automobile Association boosted its position in shares of Owens Corning by 30.2% during the 2nd quarter. United Services Automobile Association now owns 36,118 shares of the construction company’s stock worth $6,274,000 after purchasing an additional 8,388 shares during the period. Choreo LLC acquired a new position in Owens Corning during the second quarter worth $384,000. Wedbush Securities Inc. boosted its position in shares of Owens Corning by 6.8% during the second quarter. Wedbush Securities Inc. now owns 2,160 shares of the construction company’s stock worth $375,000 after buying an additional 137 shares during the period. Quest Partners LLC grew its stake in shares of Owens Corning by 1,609.0% in the second quarter. Quest Partners LLC now owns 5,332 shares of the construction company’s stock valued at $926,000 after buying an additional 5,020 shares in the last quarter. Finally, Trium Capital LLP raised its holdings in shares of Owens Corning by 4.2% in the 2nd quarter. Trium Capital LLP now owns 8,298 shares of the construction company’s stock valued at $1,442,000 after buying an additional 336 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Loop Capital raised their price target on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Barclays dropped their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Evercore ISI reduced their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group boosted their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Price Performance

Shares of NYSE:OC opened at $157.76 on Wednesday. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The firm has a market capitalization of $13.67 billion, a P/E ratio of 12.77, a P/E/G ratio of 3.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The company’s fifty day moving average price is $167.72 and its 200 day moving average price is $168.61.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.22 earnings per share. As a group, sell-side analysts predict that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s payout ratio is currently 19.43%.

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.