Owens Corning Inc $OC Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its holdings in shares of Owens Corning Inc (NYSE:OC) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,484 shares of the construction company’s stock after selling 772 shares during the period. IFM Investors Pty Ltd’s holdings in Owens Corning were worth $2,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Bank Pictet & Cie Europe AG purchased a new position in Owens Corning in the fourth quarter valued at $28,651,000. Cetera Investment Advisers increased its holdings in Owens Corning by 21.3% in the fourth quarter. Cetera Investment Advisers now owns 22,449 shares of the construction company’s stock valued at $3,823,000 after buying an additional 3,935 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Owens Corning by 20.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,859 shares of the construction company’s stock valued at $828,000 after buying an additional 810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Owens Corning by 13.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company’s stock valued at $125,000 after buying an additional 85 shares in the last quarter. Finally, NorthRock Partners LLC increased its holdings in Owens Corning by 152.7% in the fourth quarter. NorthRock Partners LLC now owns 3,601 shares of the construction company’s stock valued at $613,000 after buying an additional 2,176 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Evercore ISI lifted their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank Of Canada cut their target price on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, UBS Group cut their target price on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.10.

Owens Corning Stock Down 3.4%

OC stock opened at $152.36 on Friday. The stock has a market capitalization of $12.74 billion, a P/E ratio of 39.57, a P/E/G ratio of 11.17 and a beta of 1.32. The firm has a 50-day simple moving average of $147.39 and a 200-day simple moving average of $142.67. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. Owens Corning Inc has a 52 week low of $123.40 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the company earned $4.64 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Monday, July 21st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, July 21st. Owens Corning’s dividend payout ratio is currently 71.69%.

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.