16,619 Shares in Owens Corning (NYSE:OC) Bought by Point72 DIFC Ltd

Point72 DIFC Ltd acquired a new stake in Owens Corning (NYSE:OC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,619 shares of the construction company’s stock, valued at approximately $2,887,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in shares of Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after purchasing an additional 20,971 shares during the period. Hsbc Holdings PLC lifted its holdings in Owens Corning by 66.0% in the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after buying an additional 84,958 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Owens Corning by 14.2% in the 1st 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 during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 4,259 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of 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 acquiring an additional 15,667 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 0.0 %

Shares of Owens Corning stock opened at $174.27 on Tuesday. The business has a fifty day simple moving average of $167.63 and a 200-day simple moving average of $169.79. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

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, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the company earned $4.22 EPS. Owens Corning’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given 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 dividend yield of 1.38%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OC. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays decreased 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. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, UBS Group raised their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 in the company, valued at $10,074,443.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning 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 transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders sold a total of 9,101 shares of company stock valued at $1,577,952 in the last three months. 0.89% of the stock is currently owned by corporate insiders.

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.