Owens Corning Inc $OC Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its stake in Owens Corning Inc (NYSE:OC) by 29.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 83,889 shares of the construction company’s stock after selling 35,063 shares during the period. Candriam S.C.A.’s holdings in Owens Corning were worth $9,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ethic Inc. raised its stake in shares of Owens Corning by 27.9% in the 3rd quarter. Ethic Inc. now owns 5,083 shares of the construction company’s stock valued at $593,000 after purchasing an additional 1,108 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Owens Corning by 31.2% in the third quarter. Pictet Asset Management Holding SA now owns 126,853 shares of the construction company’s stock worth $14,809,000 after purchasing an additional 30,141 shares in the last quarter. CenterBook Partners LP acquired a new position in Owens Corning in the third quarter worth about $652,000. Heritage Family Offices LLP acquired a new position in Owens Corning in the third quarter worth about $37,000. Finally, QTR Family Wealth LLC increased its holdings in Owens Corning by 45.6% in the third quarter. QTR Family Wealth LLC now owns 2,152 shares of the construction company’s stock valued at $251,000 after buying an additional 674 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 900 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the transaction, the insider directly owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. This represents a 4.03% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OC has been the topic of several research reports. Wall Street Zen cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. The Goldman Sachs Group reduced their target price on Owens Corning from $169.00 to $128.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, September 21st. Zacks Research downgraded Owens Corning from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 12th. Finally, Wells Fargo & Company upped their price target on Owens Corning from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $140.93.

Owens Corning Trading Up 4.5%

Owens Corning stock opened at $126.78 on Tuesday. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91. The firm’s 50-day moving average is $121.63 and its 200-day moving average is $126.14. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.67 and a current ratio of 1.13. The company has a market cap of $10.02 billion, a P/E ratio of -23.83, a PEG ratio of 3.77 and a beta of 1.31.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.63). The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.62 billion. Owens Corning had a negative net margin of 4.42% and a positive return on equity of 19.14%. Owens Corning’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.67 EPS. On average, equities analysts expect that Owens Corning Inc will post 8.47 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Monday, October 19th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, October 19th. Owens Corning’s payout ratio is presently -59.40%.

Owens Corning Company Profile