Rockefeller Capital Management L.P. Sells 444 Shares of Owens Corning (NYSE:OC)

Rockefeller Capital Management L.P. lessened its stake in shares of Owens Corning (NYSE:OC) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,816 shares of the construction company’s stock after selling 444 shares during the period. Rockefeller Capital Management L.P.’s holdings in Owens Corning were worth $5,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Owens Corning by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock valued at $128,379,000 after purchasing an additional 24,522 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Owens Corning by 6.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock valued at $124,506,000 after purchasing an additional 43,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Owens Corning by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after purchasing an additional 2,870 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” 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. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, UBS Group lifted their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.62.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Up 0.4 %

NYSE:OC opened at $203.24 on Thursday. Owens Corning has a 12-month low of $137.29 and a 12-month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $17.43 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.28 and a beta of 1.42. The stock’s fifty day simple moving average is $187.34 and its 200-day simple moving average is $176.84.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.15 earnings per share. Equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced 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 1.18%. Owens Corning’s dividend payout ratio is presently 20.43%.

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.