Owens Corning (OC) Position Reduced by Dupont Capital Management Corp

Dupont Capital Management Corp trimmed its holdings in shares of Owens Corning (NYSE:OC) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,900 shares of the construction company’s stock after selling 14,638 shares during the quarter. Dupont Capital Management Corp’s holdings in Owens Corning were worth $5,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pendal Group Ltd purchased a new stake in Owens Corning during the 3rd quarter valued at $145,000. John G Ullman & Associates Inc. purchased a new stake in Owens Corning during the 3rd quarter valued at $2,855,000. Wells Fargo & Company MN boosted its stake in Owens Corning by 46.6% during the 3rd quarter. Wells Fargo & Company MN now owns 2,981,084 shares of the construction company’s stock valued at $161,784,000 after purchasing an additional 947,108 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Owens Corning by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 55,850 shares of the construction company’s stock valued at $3,031,000 after purchasing an additional 3,500 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Owens Corning by 62.1% during the 3rd quarter. US Bancorp DE now owns 20,242 shares of the construction company’s stock valued at $1,098,000 after purchasing an additional 7,754 shares during the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.

In related news, Director W Howard Morris sold 1,514 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $58.47, for a total value of $88,523.58. Following the transaction, the director now directly owns 36,332 shares of the company’s stock, valued at approximately $2,124,332.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Several analysts have commented on the company. TheStreet downgraded Owens Corning from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Credit Suisse Group dropped their price target on Owens Corning from $57.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. SunTrust Banks dropped their price target on Owens Corning to $45.00 and set a “positive” rating on the stock in a research note on Thursday, October 25th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $62.00 to $58.00 in a research note on Thursday, October 25th. Finally, Seaport Global Securities downgraded Owens Corning from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.94.

OC stock opened at $47.37 on Friday. The firm has a market capitalization of $5.40 billion, a PE ratio of 10.69, a PEG ratio of 0.77 and a beta of 1.14. Owens Corning has a 1 year low of $42.88 and a 1 year high of $96.52. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 0.87.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 24th. The construction company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.11). Owens Corning had a return on equity of 12.37% and a net margin of 5.33%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $1.25 earnings per share. Owens Corning’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 4.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Tuesday, October 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. Owens Corning’s dividend payout ratio is currently 19.09%.

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Owens Corning Company Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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