Townsquare Capital LLC Sells 381 Shares of Owens Corning (NYSE:OC)

Townsquare Capital LLC lessened its position in Owens Corning (NYSE:OC) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,149 shares of the construction company’s stock after selling 381 shares during the quarter. Townsquare Capital LLC’s holdings in Owens Corning were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of OC. ST Germain D J Co. Inc. lifted its position in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Owens Corning in the second quarter valued at approximately $32,000. Tobam grew its stake in shares of Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Owens Corning in the third quarter worth $38,000. Finally, Quarry LP increased its position in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were 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 approximately $10,074,443.50. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.3 %

Shares of NYSE OC opened at $205.62 on Monday. Owens Corning has a 52-week low of $132.62 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The business has a fifty day moving average of $186.20 and a two-hundred day moving average of $176.47. The stock has a market cap of $17.64 billion, a PE ratio of 17.50, a PEG ratio of 2.30 and a beta of 1.41.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.15 earnings per share. As a group, equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. Owens Corning’s dividend payout ratio is 20.43%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group upped their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

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.