Donald L. Hagan LLC Cuts Stock Holdings in Owens Corning (NYSE:OC)

Donald L. Hagan LLC cut its stake in shares of Owens Corning (NYSE:OC) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,964 shares of the construction company’s stock after selling 399 shares during the quarter. Owens Corning accounts for about 1.1% of Donald L. Hagan LLC’s holdings, making the stock its 15th biggest holding. Donald L. Hagan LLC’s holdings in Owens Corning were worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Retirement Guys Formula LLC boosted its stake in Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Tobam boosted its stake in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust boosted its stake in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. UBS Group increased their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Evercore ISI increased their price target on shares of Owens Corning from $175.00 to $189.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price target on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $187.77.

Owens Corning Stock Up 1.5 %

Owens Corning stock traded up $2.77 during midday trading on Wednesday, hitting $185.33. 355,994 shares of the company’s stock were exchanged, compared to its average volume of 675,771. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a 12 month low of $120.17 and a 12 month high of $191.44. The firm has a 50-day moving average of $174.60 and a two-hundred day moving average of $173.28. The company has a market cap of $16.11 billion, a PE ratio of 15.46, a P/E/G ratio of 2.21 and a beta of 1.41.

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 the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm posted $4.22 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company 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 was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.29%. Owens Corning’s payout ratio is 20.32%.

About Owens Corning

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.