Amalgamated Bank Has $7.48 Million Holdings in Owens Corning (NYSE:OC)

Amalgamated Bank decreased its position in shares of Owens Corning (NYSE:OC) by 18.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,396 shares of the construction company’s stock after selling 9,333 shares during the quarter. Amalgamated Bank’s holdings in Owens Corning were worth $7,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC grew its stake in shares of Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock worth $7,214,000 after purchasing an additional 20,971 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Owens Corning by 14.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after buying an additional 14,011 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Owens Corning in the first quarter valued at about $997,000. Twin Tree Management LP raised its position in shares of Owens Corning by 61.8% during the first quarter. Twin Tree Management LP now owns 8,997 shares of the construction company’s stock worth $1,501,000 after acquiring an additional 3,436 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new position in shares of Owens Corning in the first quarter worth approximately $539,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 1.2 %

Shares of NYSE OC opened at $184.73 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock has a market capitalization of $16.06 billion, a PE ratio of 15.64, a P/E/G ratio of 2.20 and a beta of 1.41. Owens Corning has a one year low of $120.17 and a one year high of $191.44. The business’s fifty day moving average price is $174.60 and its 200-day moving average price is $173.28.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.22 EPS. On average, equities research analysts anticipate that Owens Corning will post 15.34 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.30%. Owens Corning’s dividend payout ratio (DPR) is currently 20.32%.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OC shares. Wells Fargo & Company increased their target price on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI increased their price objective on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group lifted their price objective on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $187.77.

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.