Avior Wealth Management LLC Decreases Position in Owens Corning (NYSE:OC)

Avior Wealth Management LLC decreased its holdings in Owens Corning (NYSE:OC) by 19.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 583 shares of the construction company’s stock after selling 137 shares during the period. Avior Wealth Management LLC’s holdings in Owens Corning were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. ST Germain D J Co. Inc. raised its holdings in 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 valued at $26,000 after acquiring an additional 135 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Owens Corning in the 2nd quarter valued at approximately $32,000. Tobam raised its holdings in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Quarry LP lifted its position in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Owens Corning during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 2.6 %

NYSE:OC opened at $202.77 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $182.76 and its 200-day simple moving average is $175.40. Owens Corning has a 12-month low of $131.61 and a 12-month high of $203.40. The firm has a market cap of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were 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 approximately $10,074,443.50. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OC shares. Wells Fargo & Company raised their price target on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.62.

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.