Toronto Dominion Bank Sells 138 Shares of Owens Corning (NYSE:OC)

Toronto Dominion Bank decreased its stake in Owens Corning (NYSE:OC) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,453 shares of the construction company’s stock after selling 138 shares during the quarter. Toronto Dominion Bank’s holdings in Owens Corning were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. MV Capital Management Inc. raised its stake in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares during the period. NBC Securities Inc. acquired a new stake in shares of Owens Corning during the first quarter worth about $26,000. ST Germain D J Co. Inc. lifted its holdings in shares of Owens Corning by 794.1% during the 2nd 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 in the last quarter. Riverview Trust Co acquired a new position in shares of Owens Corning in the 1st quarter valued at approximately $28,000. Finally, ORG Partners LLC bought a new stake in Owens Corning during the 1st quarter worth approximately $31,000. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

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

Owens Corning Price Performance

Shares of OC opened at $176.30 on Tuesday. 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 company’s fifty day simple moving average is $167.42 and its 200 day simple moving average is $170.34. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 3.47 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Loop Capital increased their target price on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Royal Bank of Canada boosted their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price 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.