Point72 Asia Singapore Pte. Ltd. Takes Position in Owens Corning (NYSE:OC)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Owens Corning (NYSE:OC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 11,257 shares of the construction company’s stock, valued at approximately $1,956,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its position 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 purchasing an additional 79 shares during the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning in the 1st quarter valued at approximately $26,000. ST Germain D J Co. Inc. raised its stake in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Riverview Trust Co acquired a new position in Owens Corning during the 1st quarter worth $28,000. Finally, ORG Partners LLC bought a new position in shares of Owens Corning in the first quarter worth $31,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,101 shares of company stock worth $1,577,952. 0.89% of the stock is owned by corporate insiders.

Owens Corning Price Performance

NYSE OC opened at $174.42 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a market cap of $15.17 billion, a PE ratio of 14.12, a PEG ratio of 3.47 and a beta of 1.41. The stock’s 50-day moving average price is $167.49 and its two-hundred day moving average price is $169.92.

Owens Corning (NYSE:OC) last released its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.22 earnings per share. On average, analysts predict that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI cut their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a research note on Monday, June 17th. 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.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $184.23.

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.