Coldstream Capital Management Inc. Lowers Holdings in Owens Corning (NYSE:OC)

Coldstream Capital Management Inc. trimmed its position in Owens Corning (NYSE:OC) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,337 shares of the construction company’s stock after selling 69 shares during the period. Coldstream Capital Management Inc.’s holdings in Owens Corning were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OC. Innealta Capital LLC purchased a new position in Owens Corning in the 2nd quarter valued at $32,000. Tobam lifted its holdings in Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the period. Brooklyn Investment Group acquired a new stake in Owens Corning in the third quarter valued at $38,000. Quarry LP lifted its holdings in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Owens Corning by 46.2% in the second quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock valued at $61,000 after acquiring an additional 116 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 2.1 %

Owens Corning stock opened at $194.37 on Friday. The stock has a market cap of $16.67 billion, a PE ratio of 16.54, a P/E/G ratio of 2.22 and a beta of 1.42. The stock has a 50-day moving average price of $190.94 and a 200 day moving average price of $177.88. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a $0.69 dividend. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.42%. Owens Corning’s payout ratio is 20.43%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group raised their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target 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, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $192.00 to $245.00 in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $198.33.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 completion of the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by company insiders.

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.