Owens Corning (NYSE:OC) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its position in shares of Owens Corning (NYSE:OC) by 1.2% in the second quarter, Holdings Channel reports. The institutional investor owned 12,886 shares of the construction company’s stock after selling 157 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Owens Corning were worth $2,238,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. United Services Automobile Association increased its stake in Owens Corning by 30.2% during the second quarter. United Services Automobile Association now owns 36,118 shares of the construction company’s stock worth $6,274,000 after acquiring an additional 8,388 shares during the last quarter. Choreo LLC purchased a new stake in Owens Corning in the 2nd quarter valued at about $384,000. Wedbush Securities Inc. lifted its position in Owens Corning by 6.8% in the second quarter. Wedbush Securities Inc. now owns 2,160 shares of the construction company’s stock valued at $375,000 after buying an additional 137 shares during the last quarter. Quest Partners LLC boosted its stake in Owens Corning by 1,609.0% during the second quarter. Quest Partners LLC now owns 5,332 shares of the construction company’s stock worth $926,000 after buying an additional 5,020 shares during the period. Finally, Trium Capital LLP increased its position in shares of Owens Corning by 4.2% during the second quarter. Trium Capital LLP now owns 8,298 shares of the construction company’s stock valued at $1,442,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on OC shares. Evercore ISI decreased their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Loop Capital boosted their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Stock Up 2.4 %

OC stock opened at $165.58 on Friday. The stock has a market cap of $14.40 billion, a P/E ratio of 13.41, a PEG ratio of 3.18 and a beta of 1.41. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company’s 50 day moving average is $167.41 and its two-hundred day moving average is $168.62.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $4.22 earnings per share. Owens Corning’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.