Owens Corning (NYSE:OC) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Owens Corning (NYSE:OC) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 199,779 shares of the construction company’s stock after selling 702 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Owens Corning worth $35,265,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OC. ST Germain D J Co. Inc. lifted its stake in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Innealta Capital LLC bought a new position in Owens Corning during the 2nd quarter valued at $32,000. Tobam increased its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Quarry LP raised its stake in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Owens Corning in the second quarter valued at $48,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Down 0.7 %

Shares of Owens Corning stock opened at $193.99 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1 year low of $128.79 and a 1 year high of $199.54. The stock has a 50-day moving average price of $179.12 and a 200 day moving average price of $174.59. The company has a market cap of $16.64 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.20 and a beta of 1.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $4.15 earnings per share. As a group, analysts expect that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analyst Ratings Changes

A number of research firms recently issued reports on OC. Evercore ISI lifted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred 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 owns 60,130 shares in the company, valued at approximately $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by corporate insiders.

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.