Owens Corning (NYSE:OC) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of Owens Corning (NYSE:OCGet Rating) by 213.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,279 shares of the construction company’s stock after acquiring an additional 30,141 shares during the quarter. State of Alaska Department of Revenue’s holdings in Owens Corning were worth $3,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Owens Corning by 1,750.0% in the first quarter. American Century Companies Inc. now owns 443,570 shares of the construction company’s stock worth $40,587,000 after acquiring an additional 419,593 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Owens Corning by 90.5% in the first quarter. Stephens Inc. AR now owns 4,522 shares of the construction company’s stock worth $414,000 after buying an additional 2,148 shares during the period. New York State Teachers Retirement System boosted its position in shares of Owens Corning by 3.3% in the first quarter. New York State Teachers Retirement System now owns 65,016 shares of the construction company’s stock worth $5,949,000 after buying an additional 2,066 shares during the period. Vident Investment Advisory LLC boosted its holdings in Owens Corning by 26.2% in the first quarter. Vident Investment Advisory LLC now owns 90,029 shares of the construction company’s stock valued at $8,236,000 after purchasing an additional 18,683 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in Owens Corning in the first quarter valued at about $4,575,000. 93.64% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Shares of NYSE OC opened at $77.08 on Friday. The stock has a fifty day moving average price of $85.59 and a two-hundred day moving average price of $87.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.23 and a current ratio of 1.87. The firm has a market cap of $7.42 billion, a P/E ratio of 6.85, a PEG ratio of 0.68 and a beta of 1.53. Owens Corning has a 1 year low of $72.97 and a 1 year high of $101.12.

Owens Corning (NYSE:OCGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.52. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.58 billion. Owens Corning had a return on equity of 26.22% and a net margin of 12.20%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $2.60 EPS. Research analysts forecast that Owens Corning will post 12.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, October 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.82%. Owens Corning’s dividend payout ratio (DPR) is presently 12.44%.

Insider Transactions at Owens Corning

In other news, VP Kelly Schmidt sold 1,940 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $91.93, for a total value of $178,344.20. Following the completion of the sale, the vice president now owns 15,083 shares of the company’s stock, valued at $1,386,580.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Kelly Schmidt sold 1,940 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the sale, the vice president now directly owns 15,083 shares in the company, valued at $1,386,580.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director W Howard Morris sold 401 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $84.01, for a total value of $33,688.01. Following the sale, the director now owns 39,719 shares of the company’s stock, valued at $3,336,793.19. The disclosure for this sale can be found here. Insiders sold a total of 12,641 shares of company stock valued at $1,050,536 over the last quarter. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Owens Corning from $90.00 to $77.00 and set a “sell” rating on the stock in a research note on Thursday, June 23rd. Barclays dropped their price target on Owens Corning from $100.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. Wells Fargo & Company increased their price target on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. dropped their price target on Owens Corning from $102.00 to $86.00 in a research report on Friday, July 15th. Finally, StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $102.92.

Owens Corning Company Profile

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and 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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