Empirical Finance LLC Sells 884 Shares of Owens Corning (NYSE:OC)

Empirical Finance LLC cut its stake in shares of Owens Corning (NYSE:OC) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,770 shares of the construction company’s stock after selling 884 shares during the quarter. Empirical Finance LLC’s holdings in Owens Corning were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OC. SG Americas Securities LLC increased its position in shares of Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after acquiring an additional 20,971 shares during the period. Hsbc Holdings PLC increased its holdings in Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after purchasing an additional 84,958 shares during the period. State Board of Administration of Florida Retirement System raised its position in Owens Corning by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after buying an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of Owens Corning by 452.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after buying an additional 15,667 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 1.3 %

Shares of NYSE:OC opened at $168.73 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $169.47 and a two-hundred day simple moving average of $167.59. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.35 and a beta of 1.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $4.22 EPS. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Activity

In related news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the transaction, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 6,240 shares of company stock worth $1,107,192 over the last 90 days. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of recent analyst reports. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and upped their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. UBS Group raised their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday. Loop Capital increased their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $184.23.

Owens Corning 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.