BNP Paribas Arbitrage SNC Sells 116,766 Shares of Owens Corning (NYSE:OC)

BNP Paribas Arbitrage SNC decreased its stake in shares of Owens Corning (NYSE:OCFree Report) by 45.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,258 shares of the construction company’s stock after selling 116,766 shares during the quarter. BNP Paribas Arbitrage SNC owned approximately 0.16% of Owens Corning worth $18,565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Owens Corning in the 2nd quarter valued at about $911,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Owens Corning in the 2nd quarter valued at about $25,000. Mendota Financial Group LLC bought a new stake in shares of Owens Corning in the 2nd quarter valued at about $39,000. Desjardins Global Asset Management Inc. raised its holdings in shares of Owens Corning by 100.0% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 310 shares of the construction company’s stock valued at $40,000 after purchasing an additional 155 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in shares of Owens Corning in the 2nd quarter valued at about $42,000. Institutional investors own 90.22% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Todd W. Fister sold 5,375 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $136.23, for a total transaction of $732,236.25. Following the completion of the transaction, the insider now directly owns 26,067 shares in the company, valued at $3,551,107.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Todd W. Fister sold 5,375 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $136.23, for a total transaction of $732,236.25. Following the completion of the transaction, the insider now directly owns 26,067 shares in the company, valued at $3,551,107.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Howard Morris sold 350 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $122.05, for a total transaction of $42,717.50. Following the transaction, the director now owns 41,045 shares of the company’s stock, valued at $5,009,542.25. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Up 1.6 %

NYSE:OC opened at $131.35 on Friday. Owens Corning has a 12 month low of $83.98 and a 12 month high of $147.00. The firm has a fifty day simple moving average of $128.57 and a 200-day simple moving average of $127.40. The company has a current ratio of 2.16, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $11.67 billion, a P/E ratio of 10.12, a PEG ratio of 1.20 and a beta of 1.49.

Owens Corning (NYSE:OCGet Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The construction company reported $4.15 EPS for the quarter, topping the consensus estimate of $3.89 by $0.26. Owens Corning had a net margin of 12.31% and a return on equity of 25.59%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm posted $3.57 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning will post 13.75 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Monday, October 16th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $2.08 dividend on an annualized basis and a yield of 1.58%. Owens Corning’s dividend payout ratio is presently 16.02%.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Owens Corning from a “sell” rating to a “neutral” rating and boosted their price target for the company from $113.00 to $150.00 in a report on Thursday, September 7th. Jefferies Financial Group cut their price objective on shares of Owens Corning from $180.00 to $170.00 in a research report on Thursday, October 12th. JPMorgan Chase & Co. raised shares of Owens Corning from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $95.00 to $133.00 in a research report on Friday, July 28th. Citigroup lifted their price objective on shares of Owens Corning from $132.00 to $134.00 and gave the stock a “neutral” rating in a research report on Monday, July 24th. Finally, Argus lifted their price objective on shares of Owens Corning from $120.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.00.

View Our Latest Report on OC

Owens Corning Profile

(Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, 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.

Further Reading

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCFree Report).

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

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.