Sage Capital Advisors llc decreased its stake in shares of Owens Corning (NYSE:OC) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,353 shares of the construction company’s stock after selling 629 shares during the quarter. Sage Capital Advisors llc’s holdings in Owens Corning were worth $1,635,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in shares of Owens Corning in the first quarter worth $26,000. First Mercantile Trust Co. acquired a new stake in shares of Owens Corning in the first quarter worth $33,000. Bremer Bank National Association acquired a new stake in shares of Owens Corning in the first quarter worth $58,000. Meeder Asset Management Inc. acquired a new stake in shares of Owens Corning in the first quarter worth $89,000. Finally, NEXT Financial Group Inc increased its stake in shares of Owens Corning by 105.1% in the second quarter. NEXT Financial Group Inc now owns 1,641 shares of the construction company’s stock worth $96,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 96.27% of the company’s stock.
OC traded down $0.28 during midday trading on Monday, hitting $53.80. 18,714 shares of the company traded hands, compared to its average volume of 1,452,238. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.69 and a quick ratio of 0.89. The stock has a market cap of $6.02 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. Owens Corning has a 52-week low of $40.64 and a 52-week high of $61.53. The stock’s 50 day moving average price is $56.02.
Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.18. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.83 billion. Owens Corning had a net margin of 7.21% and a return on equity of 12.18%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. Equities analysts expect that Owens Corning will post 4.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Tuesday, July 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s payout ratio is currently 17.81%.
In other news, insider Michael H. Thaman sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $51.49, for a total value of $1,544,700.00. Following the completion of the transaction, the insider now owns 856,240 shares of the company’s stock, valued at $44,087,797.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Kelly Schmidt sold 2,438 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $53.03, for a total transaction of $129,287.14. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
OC has been the topic of a number of recent analyst reports. Nomura reissued a “neutral” rating and set a $48.00 price target (down from $70.00) on shares of Owens Corning in a report on Thursday, May 16th. Seaport Global Securities raised shares of Owens Corning from a “sell” rating to a “neutral” rating in a report on Thursday, June 27th. Bank of America raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $72.00 in a report on Thursday, June 27th. Barclays reissued a “buy” rating and set a $65.00 price target on shares of Owens Corning in a report on Monday, July 1st. Finally, SunTrust Banks increased their price target on shares of Owens Corning to $58.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.29.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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.
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