Dupont Capital Management Corp decreased its stake in shares of Owens Corning (NYSE:OC) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,900 shares of the construction company’s stock after selling 14,638 shares during the period. Dupont Capital Management Corp owned about 0.09% of Owens Corning worth $5,204,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Owens Corning during the second quarter worth $127,000. Gradient Investments LLC bought a new stake in Owens Corning during the third quarter worth $138,000. Pendal Group Ltd bought a new stake in Owens Corning during the third quarter worth $145,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Owens Corning during the second quarter worth $163,000. Finally, Synovus Financial Corp lifted its holdings in Owens Corning by 2,016.9% during the second quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock worth $198,000 after acquiring an additional 2,985 shares during the period. 94.89% of the stock is currently owned by institutional investors.
Shares of OC opened at $47.37 on Friday. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.77 and a beta of 1.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 1.62. Owens Corning has a 1 year low of $42.88 and a 1 year high of $96.52.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 24th. The construction company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.11). Owens Corning had a net margin of 5.33% and a return on equity of 12.37%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts anticipate that Owens Corning will post 4.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Tuesday, October 16th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Owens Corning’s payout ratio is 19.09%.
In related news, Director W Howard Morris sold 1,514 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $58.47, for a total transaction of $88,523.58. Following the sale, the director now directly owns 36,332 shares in the company, valued at approximately $2,124,332.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
OC has been the topic of a number of recent analyst reports. Goldman Sachs Group started coverage on Owens Corning in a report on Tuesday, October 2nd. They set a “buy” rating and a $75.00 price target on the stock. Longbow Research restated a “buy” rating on shares of Owens Corning in a research note on Monday, September 24th. Nomura set a $88.00 target price on Owens Corning and gave the company a “buy” rating in a research note on Wednesday, August 29th. Northcoast Research restated a “buy” rating and issued a $81.00 target price on shares of Owens Corning in a research note on Friday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $75.00 target price on shares of Owens Corning in a research note on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.94.
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Owens Corning Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
Further Reading: Understanding each part of a balance sheet
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