MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $2.94 Million Stock Position in Owens Corning (NYSE:OC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in Owens Corning (NYSE:OC) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,661 shares of the construction company’s stock after selling 7,085 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Owens Corning were worth $2,941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Owens Corning by 102.0% in the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after buying an additional 20,971 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Owens Corning by 14.2% during the first 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 purchasing an additional 14,011 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Owens Corning in the 1st quarter valued at $997,000. Twin Tree Management LP increased its stake in shares of Owens Corning by 61.8% in the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock valued at $1,501,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new stake in shares of Owens Corning during the 1st quarter worth $539,000. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the subject of several research analyst reports. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Loop Capital boosted their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, UBS Group increased their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.69.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Owens Corning Stock Up 2.6 %

Owens Corning stock opened at $180.45 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The firm has a 50 day moving average price of $167.02 and a two-hundred day moving average price of $171.23. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.62 and a beta of 1.41.

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

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio is 20.32%.

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.