Ameritas Investment Partners Inc. Has $4.40 Million Stake in Owens Corning (NYSE:OC)

Ameritas Investment Partners Inc. reduced its position in shares of Owens Corning (NYSE:OC) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,332 shares of the construction company’s stock after selling 1,192 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Owens Corning were worth $4,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Owens Corning by 7.5% during the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock worth $184,000 after acquiring an additional 77 shares in the last quarter. Bessemer Group Inc. increased its position in Owens Corning by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after purchasing an additional 78 shares in the last quarter. MV Capital Management Inc. lifted its stake in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Tobam boosted its position 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 buying an additional 103 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in shares of Owens Corning by 2.5% during the second quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock worth $783,000 after buying an additional 112 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated 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 owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. Loop Capital increased their price target on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Barclays reduced their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Trading Down 2.2 %

OC opened at $174.28 on Friday. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company has a fifty day moving average of $167.63 and a 200-day moving average of $169.39. The stock has a market cap of $15.10 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS 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 business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm posted $4.22 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio is currently 19.43%.

Owens Corning Company 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.