KBC Group NV Sells 72,170 Shares of Owens Corning (NYSE:OC)

KBC Group NV reduced its stake in Owens Corning (NYSE:OC) by 28.2% during the third quarter, HoldingsChannel.com reports. The fund owned 183,706 shares of the construction company’s stock after selling 72,170 shares during the quarter. KBC Group NV’s holdings in Owens Corning were worth $32,428,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. ST Germain D J Co. Inc. lifted its position in shares of Owens Corning by 794.1% in 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. Innealta Capital LLC purchased a new stake in shares of Owens Corning during the 2nd quarter worth approximately $32,000. Tobam boosted its position in shares of Owens Corning by 115.7% during the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares during the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in Owens Corning during the second quarter valued at $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on OC. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. UBS Group upped their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Wells Fargo & Company increased their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Down 0.3 %

Shares of OC opened at $195.26 on Friday. The firm has a fifty day moving average price of $178.38 and a 200-day moving average price of $174.39. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $16.75 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.20 and a beta of 1.41. Owens Corning has a 12-month low of $128.79 and a 12-month high of $199.54.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (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 net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.15 EPS. Equities research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 annualized dividend and a yield of 1.23%. Owens Corning’s dividend payout ratio (DPR) is currently 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.