Thrivent Financial for Lutherans Cuts Stake in Owens Corning (NYSE:OC)

Thrivent Financial for Lutherans decreased its holdings in Owens Corning (NYSE:OC) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 201,160 shares of the construction company’s stock after selling 17,310 shares during the period. Thrivent Financial for Lutherans owned approximately 0.23% of Owens Corning worth $34,945,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. boosted its stake in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the period. NBC Securities Inc. purchased a new stake in Owens Corning during the 1st quarter valued at $26,000. Riverview Trust Co purchased a new stake in Owens Corning during the 1st quarter valued at $28,000. Finally, ORG Partners LLC purchased a new stake in Owens Corning during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 2.2 %

Shares of Owens Corning stock opened at $174.20 on Monday. 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 50-day moving average of $167.63 and a 200 day moving average of $169.66. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 3.18 and a beta of 1.41. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13.

Owens Corning (NYSE:OC) last issued its quarterly 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. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $4.22 EPS. As a group, sell-side analysts anticipate 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 will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. Owens Corning’s dividend payout ratio is currently 19.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. 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 report on Friday, July 12th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.23.

Insider Buying and Selling at Owens Corning

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

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.