Owens Corning (NYSE:OC) Stake Cut by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its position in shares of Owens Corning (NYSE:OC) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 513,074 shares of the construction company’s stock after selling 2,313 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.59% of Owens Corning worth $87,629,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Owens Corning by 66.0% during the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after buying an additional 84,958 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after buying an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Owens Corning by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after buying an additional 4,259 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Owens Corning by 452.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after buying an additional 15,667 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 2.4 %

Shares of NYSE:OC opened at $165.58 on Friday. The business’s 50-day moving average is $167.41 and its 200-day moving average is $168.62. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. 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 has a market capitalization of $14.40 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 3.18 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Monday, July 15th. Owens Corning’s payout ratio is 19.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OC shares. Jefferies Financial Group started coverage on Owens Corning in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target for the company. Loop Capital raised their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. UBS Group raised their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Company 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.