Owens Corning (NYSE:OC) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,460 shares of the construction company’s stock after selling 150 shares during the period. Anchor Investment Management LLC’s holdings in Owens Corning were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after acquiring an additional 77 shares during the last quarter. Bessemer Group Inc. raised its holdings in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after acquiring an additional 78 shares during the last quarter. MV Capital Management Inc. raised its holdings in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Tobam raised its holdings in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in shares of Owens Corning by 2.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock valued at $783,000 after buying an additional 112 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OC. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Loop Capital boosted their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. UBS Group boosted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $184.23.

Owens Corning Stock Performance

NYSE:OC opened at $172.01 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a 50-day moving average of $167.21 and a two-hundred day moving average of $170.47. The stock has a market cap of $14.91 billion, a P/E ratio of 13.93, a PEG ratio of 3.47 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion during 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 revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.22 EPS. On average, research analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared 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 of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.40%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Insider Activity at Owens Corning

In other Owens Corning 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 completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 Owens Corning stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.