Xponance Inc. Lowers Holdings in Owens Corning (NYSE:OC)

Xponance Inc. reduced its stake in shares of Owens Corning (NYSE:OC) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,412 shares of the construction company’s stock after selling 1,364 shares during the quarter. Xponance Inc.’s holdings in Owens Corning were worth $2,330,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OC. GAMMA Investing LLC boosted its stake in shares of Owens Corning by 7.5% during the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after acquiring an additional 77 shares in the last quarter. Bessemer Group Inc. grew its holdings in Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the period. MV Capital Management Inc. increased its position in shares of 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. Tobam raised its stake in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares during the period. Finally, Atlas Capital Advisors LLC grew its stake in Owens Corning by 2.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock valued at $783,000 after acquiring an additional 112 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the firm’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 of the company’s stock, valued at $10,074,443.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the company’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 value of $538,501.50. Following the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OC has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Loop Capital raised their price target on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, UBS Group lifted their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Stock Up 2.2 %

Shares of NYSE:OC opened at $173.99 on Friday. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $167.43 and a two-hundred day moving average of $169.95. The stock has a market cap of $15.13 billion, a P/E ratio of 14.09, a PEG ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced 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 net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $4.22 earnings per share. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

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

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.