Intech Investment Management LLC Lowers Stock Holdings in Owens Corning (NYSE:OC)

Intech Investment Management LLC lessened its position in Owens Corning (NYSE:OC) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,025 shares of the construction company’s stock after selling 5,551 shares during the quarter. Intech Investment Management LLC’s holdings in Owens Corning were worth $4,947,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. ST Germain D J Co. Inc. lifted its holdings in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Owens Corning during the second quarter worth $32,000. Tobam increased its position in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares during the period. Quarry LP raised its stake in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in Owens Corning during the 2nd quarter worth $48,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 2.6 %

NYSE:OC opened at $202.77 on Friday. The company has a market capitalization of $17.39 billion, a PE ratio of 17.26, a P/E/G ratio of 2.18 and a beta of 1.41. Owens Corning has a 52-week low of $131.61 and a 52-week high of $203.40. The stock’s 50 day moving average price is $182.76 and its 200 day moving average price is $175.40. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $4.15 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.18%. Owens Corning’s dividend payout ratio is presently 20.43%.

Analyst Ratings Changes

A number of research firms have issued reports on OC. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Evercore ISI lifted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’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 owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

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.