SG Americas Securities LLC lowered its position in shares of Owens Corning (NYSE:OC) by 77.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,894 shares of the construction company’s stock after selling 20,516 shares during the quarter. SG Americas Securities LLC’s holdings in Owens Corning were worth $456,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. TIAA FSB purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $3,022,000. Geneva Advisors LLC increased its holdings in shares of Owens Corning by 6.2% in the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after purchasing an additional 603 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Owens Corning by 317.3% in the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after purchasing an additional 70,667 shares in the last quarter. Aviva PLC increased its holdings in shares of Owens Corning by 14.3% in the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Owens Corning by 213.0% in the 3rd quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock valued at $33,792,000 after purchasing an additional 297,311 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.
Owens Corning (OC) traded down $0.93 during trading on Wednesday, hitting $86.98. 910,300 shares of the company’s stock traded hands, compared to its average volume of 1,056,711. Owens Corning has a one year low of $50.77 and a one year high of $91.40. The firm has a market cap of $9,779.20, a PE ratio of 21.87, a P/E/G ratio of 1.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.21 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is currently 23.88%.
In related news, VP Ava Harter sold 487 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total value of $39,914.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director W Howard Morris sold 2,026 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The disclosure for this sale can be found here. Insiders have sold a total of 260,633 shares of company stock worth $20,992,687 over the last ninety days. 1.80% of the stock is owned by corporate insiders.
OC has been the topic of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a research note on Friday, September 1st. Royal Bank of Canada raised shares of Owens Corning from an “outperform” rating to a “top pick” rating in a research note on Monday, December 4th. Wells Fargo & Company raised shares of Owens Corning from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $83.00 in a research note on Wednesday, August 30th. SunTrust Banks increased their price objective on shares of Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group increased their price objective on shares of Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Owens Corning has a consensus rating of “Buy” and a consensus price target of $81.10.
Owens Corning Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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