Asset Management One Co. Ltd. Sells 989 Shares of Owens Corning Inc $OC

Asset Management One Co. Ltd. lowered its stake in shares of Owens Corning Inc (NYSE:OC) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,470 shares of the construction company’s stock after selling 989 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Owens Corning were worth $4,328,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Wealth Enhancement Advisory Services LLC raised its position in shares of Owens Corning by 21.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company’s stock valued at $1,245,000 after acquiring an additional 1,558 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Owens Corning by 7.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock valued at $260,000 after acquiring an additional 127 shares during the period. Hixon Zuercher LLC raised its position in shares of Owens Corning by 5.9% in the 1st quarter. Hixon Zuercher LLC now owns 8,564 shares of the construction company’s stock valued at $1,223,000 after acquiring an additional 474 shares during the period. Sebold Capital Management Inc. raised its position in shares of Owens Corning by 37.1% in the 1st quarter. Sebold Capital Management Inc. now owns 1,616 shares of the construction company’s stock valued at $231,000 after acquiring an additional 437 shares during the period. Finally, Resonant Capital Advisors LLC increased its stake in Owens Corning by 6.3% during the 1st quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock worth $250,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America lowered their target price on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Jefferies Financial Group cut their price target on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Barclays lifted their target price on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Zacks Research cut Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Vertical Research initiated coverage on Owens Corning in a research note on Monday, October 20th. They set a “hold” rating for the company. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Price Performance

Shares of NYSE:OC opened at $127.00 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. Owens Corning Inc has a twelve month low of $123.23 and a twelve month high of $214.53. The stock’s 50 day moving average is $141.73 and its 200-day moving average is $141.04. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 9.31 and a beta of 1.32.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the firm earned $4.64 earnings per share. Owens Corning’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio is 71.69%.

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.