Point72 Hong Kong Ltd Has $2.89 Million Holdings in Owens Corning (NYSE:OC)

Point72 Hong Kong Ltd decreased its position in Owens Corning (NYSE:OC) by 22.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,386 shares of the construction company’s stock after selling 4,685 shares during the period. Point72 Hong Kong Ltd’s holdings in Owens Corning were worth $2,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Owens Corning by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,470 shares of the construction company’s stock worth $12,422,000 after purchasing an additional 9,584 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Owens Corning during the first quarter worth $305,000. Atria Investments Inc acquired a new stake in Owens Corning in the first quarter valued at $1,031,000. Cetera Investment Advisers grew its position in shares of Owens Corning by 196.2% in the 1st quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock valued at $2,129,000 after acquiring an additional 8,456 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of Owens Corning during the 1st quarter worth about $421,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OC has been the subject of several recent analyst reports. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Royal Bank of Canada lifted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Trading Up 0.3 %

Shares of Owens Corning stock opened at $205.62 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $132.62 and a 12-month high of $214.53. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.30 and a beta of 1.41. The firm’s 50-day moving average price is $186.20 and its two-hundred day moving average price is $176.47.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the firm posted $4.15 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.17%. Owens Corning’s dividend payout ratio (DPR) is currently 20.43%.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred 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 directly owns 60,130 shares in the company, valued at $10,222,100. This represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

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.