Swiss National Bank trimmed its stake in shares of Owens Corning (NYSE:OC) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 419,613 shares of the construction company’s stock after selling 8,600 shares during the period. Swiss National Bank’s holdings in Owens Corning were worth $28,874,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Private Advisor Group LLC acquired a new position in Owens Corning during the 2nd quarter worth $26,000. Botty Investors LLC acquired a new position in shares of Owens Corning during the 2nd quarter worth about $28,000. Orion Portfolio Solutions LLC boosted its position in shares of Owens Corning by 56.7% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 539 shares of the construction company’s stock worth $30,000 after acquiring an additional 195 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in shares of Owens Corning during the 3rd quarter worth about $36,000. Finally, Larson Financial Group LLC boosted its position in shares of Owens Corning by 119.5% during the 3rd quarter. Larson Financial Group LLC now owns 564 shares of the construction company’s stock worth $39,000 after acquiring an additional 307 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Kelly Schmidt sold 4,967 shares of Owens Corning stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $69.00, for a total transaction of $342,723.00. Following the completion of the transaction, the vice president now directly owns 19,807 shares of the company’s stock, valued at $1,366,683. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 3,303 shares of the business’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $64.68, for a total value of $213,638.04. Following the sale, the insider now owns 24,905 shares in the company, valued at $1,610,855.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,270 shares of company stock valued at $1,606,361. Company insiders own 1.50% of the company’s stock.
OC opened at $70.78 on Friday. The company has a market cap of $7.66 billion, a PE ratio of -14.13, a P/E/G ratio of 1.51 and a beta of 1.58. The business has a 50 day moving average price of $71.15 and a two-hundred day moving average price of $61.82. Owens Corning has a 52 week low of $28.56 and a 52 week high of $76.60. The company has a quick ratio of 1.29, a current ratio of 1.95 and a debt-to-equity ratio of 0.80.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.38. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.80 billion. Owens Corning had a positive return on equity of 11.99% and a negative net margin of 7.94%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. As a group, sell-side analysts expect that Owens Corning will post 4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Tuesday, October 20th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, October 19th. Owens Corning’s dividend payout ratio (DPR) is 21.15%.
OC has been the subject of several analyst reports. JPMorgan Chase & Co. raised Owens Corning from an “underweight” rating to a “neutral” rating and set a $78.00 price objective for the company in a research report on Friday, October 30th. Benchmark raised Owens Corning from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, October 13th. ValuEngine cut Owens Corning from a “hold” rating to a “sell” rating in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Owens Corning from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Zacks Investment Research raised Owens Corning from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $65.68.
Owens Corning Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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