Ameritas Investment Partners Inc. Sells 1,192 Shares of Owens Corning (NYSE:OC)

Ameritas Investment Partners Inc. lowered its stake in shares of Owens Corning (NYSE:OC) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,332 shares of the construction company’s stock after selling 1,192 shares during the period. Ameritas Investment Partners Inc.’s holdings in Owens Corning were worth $4,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. MV Capital Management Inc. boosted its stake in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Owens Corning during the first quarter worth $26,000. ST Germain D J Co. Inc. boosted its position in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Owens Corning in the 1st quarter valued at $28,000. Finally, ORG Partners LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at $31,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 2.2 %

Owens Corning stock opened at $174.28 on Friday. Owens Corning has a one year low of $109.95 and a one year high of $191.13. The company has a market cap of $15.10 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 3.18 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 firm has a 50-day moving average of $167.63 and a 200-day moving average of $169.39.

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

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is currently 19.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OC. UBS Group boosted their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and upped their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Royal Bank of Canada raised their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Insider Activity

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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.