Toronto Dominion Bank Buys 1,640 Shares of Owens Corning (NYSE:OC)

Toronto Dominion Bank raised its stake in Owens Corning (NYSE:OC) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,485 shares of the construction company’s stock after buying an additional 1,640 shares during the quarter. Toronto Dominion Bank’s holdings in Owens Corning were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of Owens Corning by 0.7% in the second quarter. Arizona State Retirement System now owns 25,222 shares of the construction company’s stock valued at $1,406,000 after purchasing an additional 187 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Owens Corning by 56.7% in the second quarter. Orion Portfolio Solutions LLC now owns 539 shares of the construction company’s stock valued at $30,000 after purchasing an additional 195 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Owens Corning by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 7,932 shares of the construction company’s stock valued at $441,000 after purchasing an additional 214 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Owens Corning by 1.1% in the second quarter. Advisor Group Holdings Inc. now owns 34,884 shares of the construction company’s stock valued at $1,947,000 after purchasing an additional 382 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Owens Corning by 5.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 7,265 shares of the construction company’s stock valued at $282,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.

In other news, Director W Howard Morris sold 2,660 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $67.35, for a total value of $179,151.00. Following the completion of the sale, the director now owns 37,672 shares of the company’s stock, valued at $2,537,209.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kelly Schmidt sold 4,967 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $69.00, for a total transaction of $342,723.00. Following the completion of the sale, the vice president now directly owns 19,807 shares of the company’s stock, valued at approximately $1,366,683. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

NYSE:OC opened at $68.27 on Wednesday. The firm’s fifty day moving average price is $66.94 and its two-hundred day moving average price is $52.83. The company has a market cap of $7.37 billion, a P/E ratio of -12.35, a P/E/G ratio of 4.08 and a beta of 1.59. Owens Corning has a one year low of $28.56 and a one year high of $70.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.87 and a quick ratio of 1.19.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, July 29th. The construction company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.62. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Owens Corning had a negative net margin of 8.79% and a positive return on equity of 11.35%. Owens Corning’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. As a group, equities research analysts expect that Owens Corning will post 3.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Tuesday, October 20th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.41%. Owens Corning’s payout ratio is presently 21.15%.

A number of analysts have recently issued reports on OC shares. Nomura Instinet lifted their price objective on shares of Owens Corning from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Credit Suisse Group assumed coverage on shares of Owens Corning in a report on Wednesday, May 27th. They set a “neutral” rating and a $48.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Owens Corning from $56.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Jefferies Financial Group boosted their target price on shares of Owens Corning from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Nomura boosted their target price on shares of Owens Corning from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Owens Corning currently has a consensus rating of “Hold” and an average target price of $62.62.

Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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