Owens Corning (NYSE:OC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Owens Corning (NYSE:OC) by 36.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,245 shares of the construction company’s stock after selling 17,353 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Owens Corning were worth $5,254,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Owens Corning by 66.0% during the fourth 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. State Board of Administration of Florida Retirement System increased its position in shares of Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after acquiring an additional 14,011 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Owens Corning by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after acquiring an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Owens Corning by 452.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after acquiring an additional 15,667 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by insiders.

Owens Corning Trading Up 1.3 %

OC opened at $167.77 on Tuesday. The stock has a market capitalization of $14.54 billion, a PE ratio of 13.58, a P/E/G ratio of 3.18 and a beta of 1.41. The firm’s fifty day moving average price is $167.42 and its 200 day moving average price is $169.02. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13.

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, beating the consensus estimate of $4.37 by $0.27. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.22 earnings per share. As a group, research analysts expect that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 15th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s payout ratio is 19.43%.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent research reports. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. UBS Group upped their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, Evercore ISI dropped their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.