SG Americas Securities LLC Cuts Holdings in Owens Corning (NYSE:OC)

SG Americas Securities LLC lessened its stake in shares of Owens Corning (NYSE:OC) by 84.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,579 shares of the construction company’s stock after selling 34,946 shares during the quarter. SG Americas Securities LLC’s holdings in Owens Corning were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. Pacer Advisors Inc. raised its stake in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after acquiring an additional 446,073 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after purchasing an additional 533,910 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Owens Corning by 6.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after buying an additional 43,180 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Owens Corning by 2.2% in the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after buying an additional 12,707 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction 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 sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OC. Wells Fargo & Company boosted their price target on Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Evercore ISI lowered their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays decreased their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.69.

Owens Corning Stock Performance

Owens Corning stock opened at $176.02 on Friday. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41. The firm has a 50 day simple moving average of $166.81 and a 200-day simple moving average of $171.05. 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 (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $4.22 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts expect that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

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 given a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.36%. Owens Corning’s dividend payout ratio is currently 19.43%.

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.