HighTower Advisors LLC Sells 632 Shares of Owens Corning (NYSE:OC)

HighTower Advisors LLC trimmed its stake in shares of Owens Corning (NYSE:OC) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,284 shares of the construction company’s stock after selling 632 shares during the quarter. HighTower Advisors LLC’s holdings in Owens Corning were worth $2,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in Owens Corning by 13.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,511 shares of the construction company’s stock valued at $263,000 after purchasing an additional 174 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Owens Corning by 133.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,327 shares of the construction company’s stock valued at $1,620,000 after buying an additional 5,325 shares during the period. Assenagon Asset Management S.A. grew its position in Owens Corning by 59.4% during the second quarter. Assenagon Asset Management S.A. now owns 72,426 shares of the construction company’s stock worth $12,582,000 after buying an additional 26,986 shares in the last quarter. Blue Trust Inc. increased its stake in Owens Corning by 46.2% during the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock worth $61,000 after acquiring an additional 116 shares during the period. Finally, Williams Financial LLC acquired a new position in Owens Corning in the 2nd quarter valued at $285,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.5 %

NYSE:OC opened at $191.41 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The firm’s 50 day simple moving average is $191.33 and its 200 day simple moving average is $177.95. The company has a market cap of $16.42 billion, a PE ratio of 16.29, a P/E/G ratio of 2.22 and a beta of 1.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.15 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be paid a $0.69 dividend. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

Insider Buying and Selling at Owens Corning

In related news, 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 transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on OC shares. Wells Fargo & Company raised their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $192.00 to $245.00 in a report on Wednesday. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Evercore ISI increased their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.33.

About Owens Corning

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.