Owens Corning Inc $OC Shares Sold by Curat Global LLC

Curat Global LLC cut its stake in shares of Owens Corning Inc (NYSE:OC) by 62.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 842 shares of the construction company’s stock after selling 1,400 shares during the period. Curat Global LLC’s holdings in Owens Corning were worth $116,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OC. Bangor Savings Bank acquired a new position in Owens Corning during the second quarter worth $28,000. Chilton Capital Management LLC acquired a new stake in shares of Owens Corning in the second quarter valued at about $37,000. Ameritas Advisory Services LLC acquired a new stake in shares of Owens Corning in the second quarter valued at about $42,000. Wayfinding Financial LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $60,000. Finally, IFP Advisors Inc raised its position in shares of Owens Corning by 76.0% in the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after buying an additional 199 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Owens Corning stock opened at $127.87 on Monday. Owens Corning Inc has a 12-month low of $123.23 and a 12-month high of $214.53. The stock has a market cap of $10.69 billion, a P/E ratio of 33.21, a PEG ratio of 9.33 and a beta of 1.32. The company has a 50-day moving average price of $142.69 and a 200 day moving average price of $141.19. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

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

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Owens Corning in a research report on Saturday. Bank of America reduced their target price on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Evercore ISI reduced their target price on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Zacks Research cut shares of Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Ten investment 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. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $178.31.

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.