BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stake in Owens Corning (NYSE:OC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in shares of Owens Corning (NYSE:OC) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 244,385 shares of the construction company’s stock after selling 14,819 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Owens Corning were worth $43,139,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Moran Wealth Management LLC raised its position in shares of Owens Corning by 0.5% during the third quarter. Moran Wealth Management LLC now owns 106,547 shares of the construction company’s stock valued at $18,808,000 after buying an additional 534 shares during the last quarter. Commerce Bank grew its stake in Owens Corning by 13.8% during the third quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock valued at $583,000 after acquiring an additional 399 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Owens Corning in the 3rd quarter valued at $607,000. Banque Cantonale Vaudoise lifted its stake in Owens Corning by 20.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,819 shares of the construction company’s stock worth $1,380,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Whalen Wealth Management Inc. bought a new position in shares of Owens Corning during the 3rd quarter valued at about $736,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s 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 sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group lifted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven equities 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, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Price Performance

Owens Corning stock opened at $197.58 on Friday. Owens Corning has a 12-month low of $130.91 and a 12-month high of $199.54. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $182.02 and a 200-day moving average price of $175.22. The firm has a market capitalization of $16.95 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.15 earnings per share. As a group, equities research analysts forecast that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Owens Corning 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.