Foster & Motley Inc. Reduces Holdings in Owens Corning (NYSE:OC)

Foster & Motley Inc. reduced its stake in Owens Corning (NYSE:OC) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,688 shares of the construction company’s stock after selling 82 shares during the quarter. Foster & Motley Inc.’s holdings in Owens Corning were worth $6,653,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. ST Germain D J Co. Inc. grew 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 purchasing an additional 135 shares during the last quarter. ORG Partners LLC purchased a new stake in Owens Corning in the first quarter valued at approximately $31,000. Innealta Capital LLC acquired a new position in Owens Corning in the 2nd quarter worth approximately $32,000. Tobam raised its position in 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 last quarter. Finally, Quarry LP lifted its stake in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barclays dropped their price objective 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. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $187.77.

Owens Corning Stock Up 1.3 %

OC stock opened at $185.00 on Wednesday. The stock has a market capitalization of $16.09 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.21 and a beta of 1.41. Owens Corning has a 52 week low of $120.17 and a 52 week high of $191.44. The firm has a 50-day simple moving average of $174.60 and a 200-day simple moving average of $173.28. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.22 EPS. Equities analysts forecast that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.30%. Owens Corning’s payout ratio is currently 20.32%.

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.