AQR Capital Management LLC Sells 3,738 Shares of Owens Corning (NYSE:OC)

AQR Capital Management LLC decreased its holdings in Owens Corning (NYSE:OC) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,451,032 shares of the construction company’s stock after selling 3,738 shares during the quarter. AQR Capital Management LLC’s holdings in Owens Corning were worth $252,073,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OC. MV Capital Management Inc. boosted its holdings in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. NBC Securities Inc. purchased a new position in Owens Corning during the first quarter worth about $26,000. ST Germain D J Co. Inc. increased its stake in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Riverview Trust Co bought a new position in shares of Owens Corning during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new position in shares of Owens Corning in the 1st quarter worth approximately $31,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated 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. The sale was disclosed in a filing with the SEC, which is accessible 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 value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Down 2.4 %

Shares of OC stock opened at $170.31 on Thursday. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 3.47 and a beta of 1.41. The company’s fifty day simple moving average is $167.44 and its two-hundred day simple moving average is $169.92. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. 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 released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company posted $4.22 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.41%. Owens Corning’s dividend payout ratio is currently 19.43%.

Analyst Ratings Changes

OC has been the topic of a number of recent analyst reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group increased their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays dropped their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.