Alpha DNA Investment Management LLC Lowers Stock Position in Owens Corning (NYSE:OC)

Alpha DNA Investment Management LLC lessened its stake in shares of Owens Corning (NYSE:OC) by 33.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,726 shares of the construction company’s stock after selling 874 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Owens Corning were worth $300,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. MV Capital Management Inc. boosted its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. NBC Securities Inc. purchased a new position in shares of Owens Corning in the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Riverview Trust Co purchased a new position in shares of Owens Corning in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC purchased a new position in shares of Owens Corning in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Down 2.4 %

OC stock opened at $170.31 on Thursday. The company’s 50 day moving average is $167.44 and its two-hundred day moving average is $169.92. The stock has a market cap of $14.81 billion, a P/E ratio of 13.79, a PEG ratio of 3.47 and a beta of 1.41. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The business 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 company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.22 EPS. Research analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.41%. Owens Corning’s payout ratio is 19.43%.

Analyst Ratings Changes

Several brokerages recently weighed in on OC. UBS Group raised their target price on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Loop Capital raised their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Evercore ISI reduced their target price on shares of 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 given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

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.