Owens Corning (NYSE:OC) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC trimmed its position in Owens Corning (NYSE:OC) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,222 shares of the construction company’s stock after selling 64 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Owens Corning were worth $2,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. raised 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 worth $25,000 after buying an additional 79 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. ORG Partners LLC bought a new position in shares of Owens Corning during the 1st quarter valued at about $31,000. Innealta Capital LLC acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $32,000. Finally, Tobam raised its holdings in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

OC stock opened at $181.90 on Friday. The firm has a 50 day simple moving average of $172.47 and a 200 day simple moving average of $172.36. Owens Corning has a 52 week low of $110.96 and a 52 week high of $191.44. The stock has a market cap of $15.76 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) 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 analyst estimates of $2.92 billion. During the same quarter last year, the business posted $4.22 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OC shares. Barclays reduced their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. UBS Group lifted their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. 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. Wells Fargo & Company increased 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. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $187.77.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was 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 $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The shares were 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 approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. 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.