Alpha Windward LLC reduced its position in Owens Corning Inc (NYSE:OC) by 12.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,944 shares of the construction company’s stock after selling 1,143 shares during the period. Alpha Windward LLC’s holdings in Owens Corning were worth $532,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Comerica Bank purchased a new position in shares of Owens Corning during the fourth quarter worth about $293,000. New York State Teachers Retirement System boosted its position in shares of Owens Corning by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 10,200 shares of the construction company’s stock worth $526,000 after buying an additional 200 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Owens Corning during the fourth quarter worth about $351,000. Searle & CO. purchased a new position in shares of Owens Corning during the fourth quarter worth about $309,000. Finally, Highbridge Capital Management LLC boosted its position in shares of Owens Corning by 3.3% in the fourth quarter. Highbridge Capital Management LLC now owns 301,729 shares of the construction company’s stock worth $15,558,000 after buying an additional 9,509 shares in the last quarter.
Shares of Owens Corning Inc (NYSE OC) traded up 0.79% during midday trading on Friday, reaching $67.74. The company had a trading volume of 593,855 shares. The company’s 50-day moving average is $66.56 and its 200-day moving average is $62.12. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $68.88. The stock has a market capitalization of $7.53 billion, a PE ratio of 19.46 and a beta of 1.11.
Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. On average, equities research analysts forecast that Owens Corning Inc will post $4.28 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, July 13th. Owens Corning’s dividend payout ratio is 23.05%.
OC has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $67.00 target price on shares of Owens Corning in a report on Friday, April 21st. FBR & Co increased their target price on Owens Corning from $61.00 to $63.00 and gave the stock a “mkt perform” rating in a report on Friday, April 28th. Jefferies Group LLC increased their target price on Owens Corning from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus raised their price objective on Owens Corning from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Finally, Instinet restated a “buy” rating and set a $74.00 price objective on shares of Owens Corning in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Owens Corning currently has a consensus rating of “Buy” and a consensus target price of $70.53.
In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $67.18, for a total value of $1,115,188.00. Following the transaction, the insider now owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares in the company, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. In the last three months, insiders sold 40,144 shares of company stock worth $2,654,227. 1.80% of the stock is owned by corporate insiders.
About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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