Townsquare Capital LLC Sells 381 Shares of Owens Corning (NYSE:OC)

Townsquare Capital LLC reduced its position in shares of Owens Corning (NYSE:OC) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,149 shares of the construction company’s stock after selling 381 shares during the quarter. Townsquare Capital LLC’s holdings in Owens Corning were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the period. Point72 Asset Management L.P. boosted its holdings in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of 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 worth $124,506,000 after buying an additional 43,180 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Owens Corning by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after acquiring an additional 2,870 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in shares of Owens Corning by 2.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after acquiring an additional 12,707 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group increased their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Trading Up 0.3 %

NYSE:OC opened at $205.62 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $132.62 and a twelve month high of $214.53. The company has a market cap of $17.64 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The business has a 50 day moving average price of $186.20 and a two-hundred day moving average price of $176.47.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm earned $4.15 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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

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.