Owens Corning (NYSE:OC) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its position in shares of Owens Corning (NYSE:OC) by 28.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,648 shares of the construction company’s stock after selling 8,477 shares during the quarter. Meeder Asset Management Inc.’s holdings in Owens Corning were worth $3,761,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after acquiring an additional 20,971 shares during the period. Hsbc Holdings PLC lifted its position in Owens Corning by 66.0% during the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after purchasing an additional 84,958 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in 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 purchasing an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake 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 valued at $2,835,000 after buying an additional 15,667 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of a number of recent research reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. The Goldman Sachs Group restated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Evercore ISI dropped their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.23.

Insider Activity at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction 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 sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.89% of the stock is owned by corporate insiders.

Owens Corning Stock Up 1.2 %

Shares of NYSE OC opened at $161.75 on Friday. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company’s 50-day simple moving average is $167.41 and its 200-day simple moving average is $168.50. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. Owens Corning has a 52-week low of $109.95 and a 52-week 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 for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company posted $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, July 15th. Owens Corning’s payout ratio is 19.43%.

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.