Healthcare of Ontario Pension Plan Trust Fund Has $454,000 Stock Holdings in Owens Corning (NYSE:OC)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Owens Corning (NYSE:OC) by 95.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,723 shares of the construction company’s stock after selling 56,131 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Owens Corning were worth $454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in Owens Corning by 66.0% in the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after acquiring an additional 84,958 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Owens Corning by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after buying an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Owens Corning by 11.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after buying an additional 4,259 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Owens Corning by 452.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after buying an additional 15,667 shares in the last quarter. Finally, EMG Holdings L.P. acquired a new position in shares of Owens Corning during the 4th quarter worth $5,336,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Evercore ISI boosted their price target on Owens Corning from $172.00 to $188.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Royal Bank of Canada boosted their price target on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $183.92.

Owens Corning Stock Performance

Shares of OC stock opened at $175.73 on Friday. The stock has a market capitalization of $15.23 billion, a PE ratio of 14.23, a PEG ratio of 5.21 and a beta of 1.42. The business’s 50 day simple moving average is $175.49 and its 200 day simple moving average is $164.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. Owens Corning has a one year low of $109.95 and a one year high of $184.00.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company earned $2.77 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Owens Corning will post 15.44 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.37%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the transaction, the insider now directly owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares in the company, valued at $11,195,310. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Mari Doerfler sold 240 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,360 shares of company stock worth $3,437,315. Company insiders own 0.89% of the company’s stock.

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.