Measured Wealth Private Client Group LLC Reduces Stock Holdings in Owens Corning (NYSE:OC)

Measured Wealth Private Client Group LLC reduced its holdings in Owens Corning (NYSE:OC) by 47.0% during the 3rd quarter, Holdings Channel reports. The fund owned 2,683 shares of the construction company’s stock after selling 2,375 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Owens Corning were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. boosted its holdings in 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 worth $26,000 after buying an additional 135 shares in the last quarter. ORG Partners LLC purchased a new stake in Owens Corning during the first quarter worth $31,000. Innealta Capital LLC purchased a new stake in Owens Corning during the second quarter worth $32,000. Tobam boosted its holdings in Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Finally, Quarry LP boosted its holdings in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This 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 owned by company insiders.

Analyst Upgrades and Downgrades

OC has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays decreased 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 report on Friday, July 12th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Citigroup raised 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 report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $187.77.

Owens Corning Price Performance

Shares of NYSE OC opened at $180.50 on Thursday. The firm has a 50-day simple moving average of $173.69 and a 200-day simple moving average of $172.71. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41. 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 has a 52 week low of $112.32 and a 52 week high of $191.44.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is currently 20.32%.

Owens Corning Company 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.