Aperio Group LLC reduced its position in shares of Owens Corning (NYSE:OC) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,288 shares of the company’s stock after selling 614 shares during the period. Aperio Group LLC’s holdings in Owens Corning were worth $5,781,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Tower Research Capital LLC TRC bought a new stake in Owens Corning during the second quarter worth approximately $171,000. CIBC Asset Management Inc acquired a new position in Owens Corning during the third quarter worth $200,000. Societe Generale acquired a new position in Owens Corning during the second quarter worth $208,000. BB&T Corp acquired a new position in Owens Corning during the third quarter worth $221,000. Finally, Ingalls & Snyder LLC acquired a new position in Owens Corning during the second quarter worth $224,000.
Shares of Owens Corning (NYSE:OC) traded down 1.15% during midday trading on Monday, hitting $53.09. 1,003,125 shares of the company’s stock were exchanged. The stock has a market cap of $6.02 billion, a PE ratio of 14.86 and a beta of 1.15. The stock’s 50 day moving average is $50.75 and its 200-day moving average is $52.06. Owens Corning has a 1-year low of $38.96 and a 1-year high of $58.69.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The business earned $1.52 billion during the quarter, compared to the consensus estimate of $1.32 billion. Owens Corning had a net margin of 7.44% and a return on equity of 10.77%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. Analysts predict that Owens Corning will post $3.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. Owens Corning’s dividend payout ratio (DPR) is presently 20.17%.
Several research firms have weighed in on OC. Vertical Group upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Thursday, October 27th. Zacks Investment Research lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Saturday. FBR & Co decreased their target price on shares of Owens Corning from $57.00 to $56.00 and set a “market perform” rating on the stock in a report on Thursday, October 27th. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price (down from $63.00) on shares of Owens Corning in a report on Friday, October 28th. Finally, Credit Suisse Group AG began coverage on shares of Owens Corning in a report on Thursday, August 11th. They issued an “underperform” rating and a $51.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.24.
In other news, insider Arnaud Genis sold 66,619 shares of Owens Corning stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $54.68, for a total transaction of $3,642,726.92. Following the completion of the sale, the insider now directly owns 101,538 shares in the company, valued at $5,552,097.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.
About Owens Corning
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.