Handelsinvest Investeringsforvaltning Has $372,000 Holdings in Owens Corning (NYSE:OC)

Handelsinvest Investeringsforvaltning cut its position in Owens Corning (NYSE:OC) by 34.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,232 shares of the construction company’s stock after selling 1,159 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Owens Corning were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OC. Pacer Advisors Inc. boosted its holdings in Owens Corning by 6,116.6% in the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after purchasing an additional 819,201 shares during the period. Norges Bank bought a new position in shares of Owens Corning during the 4th quarter worth about $118,251,000. Bank of Nova Scotia lifted its holdings in shares of Owens Corning by 9,571.1% during the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock worth $21,287,000 after acquiring an additional 142,131 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Owens Corning by 15.1% during the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after acquiring an additional 94,185 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after acquiring an additional 84,958 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Up 0.1 %

Shares of NYSE:OC opened at $168.53 on Thursday. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The company has a 50 day moving average of $175.63 and a 200-day moving average of $162.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 5.01 and a beta of 1.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.77 EPS. Owens Corning’s revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio is 19.43%.

Analysts Set New Price Targets

OC has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Barclays raised their price objective on shares of Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Evercore ISI lifted their price target on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Finally, Jefferies Financial Group initiated coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 9,697 shares of Owens Corning stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the sale, the insider now owns 62,895 shares in the company, valued at approximately $11,195,310. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now owns 11,381 shares of the company’s stock, valued at $2,008,405.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the sale, the insider now directly owns 62,895 shares in the company, valued at approximately $11,195,310. The disclosure for this sale can be found here. Insiders sold a total of 19,360 shares of company stock worth $3,437,315 in the last quarter. 0.90% of the stock is owned by company insiders.

Owens Corning Company Profile

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.