Park Avenue Securities LLC Sells 991 Shares of Owens Corning (NYSE:OC)

Park Avenue Securities LLC lowered its stake in shares of Owens Corning (NYSE:OC) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,533 shares of the construction company’s stock after selling 991 shares during the quarter. Park Avenue Securities LLC’s holdings in Owens Corning were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its position in shares of Owens Corning by 9.8% in the 4th quarter. Bridgewater Associates LP now owns 114,806 shares of the construction company’s stock worth $17,018,000 after buying an additional 10,269 shares during the last quarter. BOKF NA boosted its stake in Owens Corning by 71.9% in the fourth quarter. BOKF NA now owns 46,071 shares of the construction company’s stock valued at $6,829,000 after acquiring an additional 19,277 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Owens Corning by 134.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 108,848 shares of the construction company’s stock worth $16,135,000 after purchasing an additional 62,495 shares during the last quarter. LM Advisors LLC acquired a new position in shares of Owens Corning during the fourth quarter worth $400,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at $910,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of several research analyst reports. UBS Group boosted their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI cut 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. Barclays decreased their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $186.69.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Price Performance

Shares of OC opened at $181.99 on Thursday. The business’s 50-day moving average is $166.94 and its two-hundred day moving average is $171.02. The company has a market capitalization of $15.77 billion, a P/E ratio of 14.74, a P/E/G ratio of 3.47 and a beta of 1.41. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $4.22 earnings per share. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.