Chartwell Investment Partners LLC Sells 470 Shares of Owens Corning (NYSE:OC)

Chartwell Investment Partners LLC lowered its position in shares of Owens Corning (NYSE:OC) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,800 shares of the construction company’s stock after selling 470 shares during the period. Chartwell Investment Partners LLC’s holdings in Owens Corning were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OC. Los Angeles Capital Management LLC lifted its stake in shares of Owens Corning by 562.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 72,621 shares of the construction company’s stock valued at $12,819,000 after acquiring an additional 61,664 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 6,373 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Owens Corning by 7.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,554 shares of the construction company’s stock valued at $274,000 after acquiring an additional 112 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Owens Corning by 581.2% in the 3rd quarter. Applied Finance Capital Management LLC now owns 13,583 shares of the construction company’s stock valued at $2,398,000 after acquiring an additional 11,589 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning in the 3rd quarter valued at about $1,046,000. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Insider Buying and Selling

In related news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’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 value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Owens Corning Stock Down 1.4 %

OC stock opened at $190.67 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.44. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. The business’s 50 day moving average price is $176.94 and its two-hundred day moving average price is $174.09. Owens Corning has a fifty-two week low of $123.10 and a fifty-two week high of $197.52.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.15 EPS. As a group, analysts forecast that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a $0.60 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. Owens Corning’s payout ratio is currently 20.43%.

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.