Gulf International Bank UK Ltd Sells 313 Shares of Owens Corning (NYSE:OC)

Gulf International Bank UK Ltd cut its position in Owens Corning (NYSE:OC) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,099 shares of the construction company’s stock after selling 313 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Owens Corning were worth $1,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its holdings in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares during the period. Innealta Capital LLC acquired a new position in Owens Corning in the 2nd quarter valued at $32,000. Tobam lifted its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Quarry LP grew its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in Owens Corning in the second quarter valued at about $48,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Up 1.6 %

Shares of NYSE OC opened at $190.44 on Friday. The stock has a market cap of $16.56 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The firm has a 50 day moving average price of $175.83 and a two-hundred day moving average price of $173.64. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. Owens Corning has a 52-week low of $121.08 and a 52-week high of $193.93.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.01 by $0.37. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.15 EPS. As a group, equities analysts forecast that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.26%. Owens Corning’s payout ratio is 20.43%.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 completion of the transaction, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $192.62.

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.