Owens Corning (NYSE:OC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in Owens Corning (NYSE:OC) by 6.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 515,387 shares of the construction company’s stock after selling 35,359 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Owens Corning were worth $85,178,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Owens Corning in the fourth quarter valued at $118,251,000. Nordea Investment Management AB lifted its position in shares of Owens Corning by 74.4% in the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Swedbank AB purchased a new stake in shares of Owens Corning in the first quarter valued at $60,424,000. Bank of Nova Scotia lifted its position in shares of Owens Corning by 9,571.1% in the fourth quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after acquiring an additional 142,131 shares in the last quarter. Finally, Cincinnati Insurance Co. purchased a new stake in shares of Owens Corning in the first quarter valued at $21,684,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In other news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,360 shares of company stock worth $3,437,315. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Stock Down 7.2 %

Shares of OC stock traded down $13.14 during trading hours on Friday, reaching $169.68. The company had a trading volume of 905,477 shares, compared to its average volume of 673,828. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company has a market capitalization of $14.70 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The stock’s fifty day simple moving average is $175.81 and its 200 day simple moving average is $166.00.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.41%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Loop Capital upped their price objective on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Jefferies Financial Group started coverage on Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price on the stock. Finally, Evercore ISI increased their target price on Owens Corning from $172.00 to $188.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $183.92.

Owens Corning 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.