PNC Financial Services Group Inc. Sells 73 Shares of Owens Corning (NYSE:OC)

PNC Financial Services Group Inc. cut its stake in shares of Owens Corning (NYSE:OC) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,861 shares of the construction company’s stock after selling 73 shares during the period. PNC Financial Services Group Inc.’s holdings in Owens Corning were worth $1,035,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after acquiring an additional 20,971 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Owens Corning by 14.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after purchasing an additional 9,584 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Owens Corning in the second quarter valued at $3,598,000. Comerica Bank raised its position in Owens Corning by 9.0% during the 1st quarter. Comerica Bank now owns 45,649 shares of the construction company’s stock worth $7,614,000 after purchasing an additional 3,769 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Owens Corning by 196.2% during the 1st quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after buying an additional 8,456 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s 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 sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

Owens Corning Stock Down 1.4 %

OC stock opened at $205.10 on Thursday. The stock’s 50 day simple moving average is $184.37 and its 200 day simple moving average is $175.86. The company has a market cap of $17.59 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a fifty-two week low of $131.67 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm earned $4.15 earnings per share. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, research analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is presently 20.43%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OC shares. Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

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.