Doliver Advisors LP Cuts Stock Holdings in Owens Corning (NYSE:OC)

Doliver Advisors LP lowered its position in Owens Corning (NYSE:OC) by 4.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,709 shares of the construction company’s stock after selling 430 shares during the period. Doliver Advisors LP’s holdings in Owens Corning were worth $1,714,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. MV Capital Management Inc. grew its position 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. acquired a new stake in Owens Corning in the 1st quarter worth about $26,000. ST Germain D J Co. Inc. boosted its holdings in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Riverview Trust Co purchased a new stake in Owens Corning during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC acquired a new position in shares of Owens Corning during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of a number of recent research reports. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Loop Capital boosted 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. Finally, Evercore ISI cut their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $184.23.

Insider Activity at Owens Corning

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

Owens Corning Trading Down 1.1 %

NYSE OC opened at $172.55 on Thursday. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.47 and a beta of 1.41. Owens Corning has a one year low of $109.95 and a one year high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The firm has a 50 day simple moving average of $167.28 and a 200-day simple moving average of $170.45.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm earned $4.22 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.39%. Owens Corning’s payout ratio is 19.43%.

About Owens Corning

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.