Owens Corning (NYSE:OC) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Owens Corning (NYSE:OC) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,974 shares of the construction company’s stock after selling 114 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Owens Corning were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Tobam lifted its holdings in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the last quarter. MV Capital Management Inc. increased its position in 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 acquiring an additional 79 shares during the period. Atlas Capital Advisors LLC increased its position in Owens Corning by 2.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock valued at $783,000 after acquiring an additional 112 shares during the period. Finally, Blue Trust Inc. increased its position in Owens Corning by 46.2% in the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after acquiring an additional 116 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

OC stock opened at $182.87 on Wednesday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The stock’s 50 day moving average price is $170.67 and its 200 day moving average price is $172.05. The firm has a market cap of $15.90 billion, a P/E ratio of 15.48, a PEG ratio of 2.33 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the company posted $4.22 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Wells Fargo & Company boosted their price target on Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada boosted their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their target price on Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.77.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.