Owens Corning Inc $OC Stock Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 25.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,617 shares of the construction company's stock after selling 9,960 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Owens Corning were worth $3,457,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tiptree Advisors LLC purchased a new position in Owens Corning during the 2nd quarter valued at about $11,445,000. Louisiana State Employees Retirement System purchased a new stake in shares of Owens Corning during the 1st quarter worth $2,576,000. Nykredit A S acquired a new position in shares of Owens Corning during the 2nd quarter worth about $166,083,000. Cibc World Market Inc. purchased a new position in Owens Corning in the second quarter valued at approximately $4,578,000. Finally, Bank of America Corp DE acquired a new stake in Owens Corning during the 2nd quarter worth $133,685,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays decreased their price objective on Owens Corning from $177.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, October 6th. Royal Bank Of Canada cut Owens Corning from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $172.00 to $127.00 in a report on Wednesday, October 7th. Citigroup boosted their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Melius Research initiated coverage on Owens Corning in a research report on Tuesday, October 6th. They set a "sell" rating and a $118.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Owens Corning from $150.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of "Hold" and a consensus target price of $141.57.

Insider Activity

In other news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the completion of the sale, the insider owned 21,449 shares of the company's stock, valued at $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Owens Corning Stock Up 0.3%

Shares of NYSE:OC opened at $112.15 on Thursday. The stock's 50-day moving average price is $128.93 and its two-hundred day moving average price is $129.43. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -13.91, a PEG ratio of 2.59 and a beta of 1.32.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.09 by $0.84. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. Owens Corning's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.21 earnings per share. On average, research analysts forecast that Owens Corning Inc will post 9.59 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. Owens Corning's payout ratio is presently -39.21%.

Owens Corning Company Profile

Owens Corning NYSE: OC is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company's primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.

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