Northwest & Ethical Investments L.P. Sells 2,025 Shares of Owens Corning (NYSE:OC)

Northwest & Ethical Investments L.P. lessened its position in Owens Corning (NYSE:OC) by 19.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,493 shares of the construction company’s stock after selling 2,025 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Owens Corning were worth $1,499,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Owens Corning by 168.3% during the second 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Owens Corning by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock valued at $128,379,000 after purchasing an additional 24,522 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Owens Corning by 6.4% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Owens Corning by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock worth $104,704,000 after purchasing an additional 2,870 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OC. Royal Bank of Canada raised their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $192.62.

Owens Corning Stock Performance

Shares of NYSE OC opened at $206.03 on Friday. Owens Corning has a one year low of $132.62 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.29 and a beta of 1.41. The stock’s fifty day moving average price is $185.57 and its two-hundred day moving average price is $176.27.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company posted $4.15 earnings per share. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Announces Dividend

The firm 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. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.16%. Owens Corning’s payout ratio is 20.43%.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is currently owned by corporate insiders.

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.