Inspire Investing LLC Decreases Stake in Owens Corning (NYSE:OC)

Inspire Investing LLC lessened its position in shares of Owens Corning (NYSE:OC) by 63.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,629 shares of the construction company’s stock after selling 2,830 shares during the period. Inspire Investing LLC’s holdings in Owens Corning were worth $288,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. raised its stake in 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 buying an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new position in Owens Corning in the first quarter valued at approximately $26,000. ST Germain D J Co. Inc. increased its stake in 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 last quarter. Riverview Trust Co purchased a new position in Owens Corning in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning during the first quarter worth approximately $31,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Owens Corning

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 stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the business’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 sale, the insider now 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 disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OC shares. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Barclays reduced their target price 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. Royal Bank of Canada raised their price target on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price target on Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $187.77.

Owens Corning Price Performance

Shares of NYSE:OC opened at $189.60 on Friday. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.44. The company has a 50-day moving average price of $170.05 and a 200 day moving average price of $171.89. The company has a market cap of $16.49 billion, a P/E ratio of 16.05, a PEG ratio of 3.74 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 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 during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm earned $4.22 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Owens Corning will post 15.34 earnings per share for the current year.

Owens Corning Announces Dividend

The business 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 1.27%. Owens Corning’s dividend payout ratio is presently 20.32%.

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.