New York State Teachers Retirement System Has $12.65 Million Stock Holdings in Owens Corning (NYSE:OC)

New York State Teachers Retirement System reduced its stake in Owens Corning (NYSE:OC) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,830 shares of the construction company’s stock after selling 887 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Owens Corning worth $12,652,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OC. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Owens Corning by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Owens Corning by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC lifted its stake in shares of Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares during the period. Bessemer Group Inc. boosted its position in shares of Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares in the last quarter. Finally, MV Capital Management Inc. lifted its stake in Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. Loop Capital lifted their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. UBS Group upped their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, Evercore ISI reduced their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Buying and Selling

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Owens Corning news, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the sale, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,240 shares of company stock valued at $1,107,192. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $171.77 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $14.89 billion, a PE ratio of 13.89, a PEG ratio of 3.15 and a beta of 1.42. The stock’s 50 day moving average price is $170.46 and its 200-day moving average price is $166.95. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.40%. Owens Corning’s payout ratio is 19.43%.

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.