Owens Corning (NYSE:OC) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd lessened its holdings in shares of Owens Corning (NYSE:OC) by 33.6% in the third quarter, Holdings Channel.com reports. The firm owned 11,027 shares of the construction company’s stock after selling 5,592 shares during the period. Point72 DIFC Ltd’s holdings in Owens Corning were worth $1,946,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Retirement Guys Formula LLC grew its position in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC grew its position in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares in the last quarter. Tobam grew its position in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. First Bank & Trust grew its position in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after acquiring an additional 73 shares in the last quarter. Finally, KMG Fiduciary Partners LLC grew its position in shares of Owens Corning by 1.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of recent research reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by insiders.

Owens Corning Trading Up 0.4 %

Shares of Owens Corning stock opened at $203.24 on Thursday. 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 cap of $17.43 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42. The business has a fifty day simple moving average of $187.34 and a 200-day simple moving average of $176.84. Owens Corning has a fifty-two week low of $137.29 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during 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 was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.15 earnings per share. On average, equities analysts forecast that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

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.