Public Employees Retirement System of Ohio decreased its position in shares of Owens Corning (NYSE:OC) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,578 shares of the construction company’s stock after selling 22,824 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of Owens Corning worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,110 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 11.1% during the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock valued at $198,000 after purchasing an additional 296 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Owens Corning during the third quarter valued at approximately $202,000. Worth Venture Partners LLC bought a new stake in shares of Owens Corning during the third quarter valued at approximately $213,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Owens Corning by 214.4% during the third quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock valued at $214,000 after purchasing an additional 1,885 shares during the last quarter. 94.50% of the stock is owned by institutional investors.
Owens Corning (NYSE:OC) opened at $91.20 on Monday. The firm has a market cap of $10,090.00, a price-to-earnings ratio of 27.22, a PEG ratio of 1.38 and a beta of 1.09. Owens Corning has a 52-week low of $50.77 and a 52-week high of $91.88. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.62.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is currently 23.88%.
In related news, Chairman Michael H. Thaman sold 101,600 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the sale, the chairman now directly owns 840,370 shares in the company, valued at $71,708,772.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ava Harter sold 487 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $81.96, for a total transaction of $39,914.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,933 shares of company stock worth $11,196,722. Insiders own 1.80% of the company’s stock.
Several analysts have recently commented on the stock. Citigroup reissued a “sell” rating and set a $69.00 price target (up from $49.00) on shares of Owens Corning in a research note on Tuesday, October 3rd. Credit Suisse Group set a $90.00 price objective on shares of Owens Corning and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Owens Corning in a research note on Friday, October 6th. Finally, Barclays set a $75.00 price objective on shares of Owens Corning and gave the company a “hold” rating in a research note on Thursday, October 26th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Owens Corning presently has an average rating of “Buy” and an average price target of $81.10.
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Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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