Sigma Planning Corp Decreases Stock Holdings in Owens Corning (NYSE:OC)

Sigma Planning Corp lessened its stake in Owens Corning (NYSE:OC) by 15.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,272 shares of the construction company’s stock after selling 228 shares during the quarter. Sigma Planning Corp’s holdings in Owens Corning were worth $225,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. boosted its stake 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 acquiring an additional 135 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Owens Corning during the second quarter worth $32,000. Tobam raised its position in shares of 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 buying an additional 103 shares during the last quarter. Quarry LP lifted its stake in shares of Owens Corning by 165.5% in 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. Finally, Friedenthal Financial acquired a new position in Owens Corning during the second quarter worth about $48,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE:OC opened at $193.99 on Monday. Owens Corning has a fifty-two week low of $128.79 and a fifty-two week high of $199.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a 50 day moving average price of $179.12 and a 200 day moving average price of $174.64. The stock has a market capitalization of $16.64 billion, a P/E ratio of 16.51, a PEG ratio of 2.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company earned $4.15 earnings per share. The business’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.39 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OC. Royal Bank of Canada raised their target price 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 reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report 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 report on Thursday, November 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Seven research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. 0.89% of the stock is currently 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.