Chartwell Investment Partners LLC Sells 470 Shares of Owens Corning (NYSE:OC)

Chartwell Investment Partners LLC decreased its position in Owens Corning (NYSE:OC) by 8.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,800 shares of the construction company’s stock after selling 470 shares during the period. Chartwell Investment Partners LLC’s holdings in Owens Corning were worth $847,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC increased its holdings in shares of Owens Corning by 562.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 72,621 shares of the construction company’s stock worth $12,819,000 after acquiring an additional 61,664 shares during the last quarter. Atria Investments Inc lifted its position in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 6,373 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Owens Corning by 7.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,554 shares of the construction company’s stock worth $274,000 after buying an additional 112 shares during the last quarter. Applied Finance Capital Management LLC lifted its position in shares of Owens Corning by 581.2% during the 3rd quarter. Applied Finance Capital Management LLC now owns 13,583 shares of the construction company’s stock worth $2,398,000 after buying an additional 11,589 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning during the 3rd quarter worth $1,046,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $190.67 on Wednesday. The stock has a market cap of $16.36 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. Owens Corning has a fifty-two week low of $123.10 and a fifty-two week high of $197.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The stock has a fifty day moving average of $176.94 and a 200-day moving average of $174.09.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Insider Activity

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning 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 $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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OC shares. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. UBS Group increased their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $192.62.

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.