Cwm LLC Trims Holdings in Owens Corning (NYSE:OC)

Cwm LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,413 shares of the construction company’s stock after selling 1,950 shares during the quarter. Cwm LLC’s holdings in Owens Corning were worth $5,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares in the last quarter. Nordea Investment Management AB increased its position in Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after purchasing an additional 533,910 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Owens Corning by 6.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 716,704 shares of the construction company’s stock worth $124,506,000 after purchasing an additional 43,180 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Owens Corning by 2.2% during the second quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock valued at $102,665,000 after purchasing an additional 12,707 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

Shares of OC opened at $180.45 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a 50-day moving average of $167.02 and a two-hundred day moving average of $171.20. The stock has a market cap of $15.69 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.62 and a beta of 1.41. Owens Corning has a one year low of $109.95 and a one year high of $191.13.

Owens Corning (NYSE:OC) last released its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $4.22 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 20.32%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. UBS Group boosted their target price on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $186.69.

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.