Canandaigua National Bank & Trust Co. Has $291,000 Stock Position in Owens Corning (NYSE:OC)

Canandaigua National Bank & Trust Co. cut its position in Owens Corning (NYSE:OC) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,677 shares of the construction company’s stock after selling 249 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Owens Corning were worth $291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. MV Capital Management Inc. grew its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Owens Corning during the 1st quarter worth about $26,000. ST Germain D J Co. Inc. raised its position 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 valued at $26,000 after buying an additional 135 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Owens Corning in the first quarter valued at about $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning during the first quarter worth about $31,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,360 shares of company stock valued at $3,437,315. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

Shares of NYSE OC traded up $1.91 during trading on Friday, reaching $157.03. The company had a trading volume of 752,849 shares, compared to its average volume of 673,026. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The business’s 50 day moving average price is $173.72 and its 200-day moving average price is $166.26. The stock has a market cap of $13.61 billion, a PE ratio of 12.72, a PEG ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.22 earnings per share. Analysts expect that Owens Corning will post 15.63 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.53%. Owens Corning’s dividend payout ratio is currently 19.43%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OC shares. StockNews.com downgraded Owens Corning from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price objective for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. UBS Group lifted their target price on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore ISI dropped their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.23.

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.