Point72 Asia Singapore Pte. Ltd. Sells 8,054 Shares of Owens Corning (NYSE:OC)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in Owens Corning (NYSE:OC) by 71.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,203 shares of the construction company’s stock after selling 8,054 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Owens Corning were worth $565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in Owens Corning during the 2nd quarter worth about $32,000. Tobam lifted its holdings in shares of Owens Corning by 115.7% in the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after buying an additional 103 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Owens Corning in the third quarter valued at approximately $38,000. Quarry LP grew its stake in Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Owens Corning during the 2nd quarter worth approximately $48,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.1 %

Shares of NYSE OC opened at $203.36 on Tuesday. The stock has a market capitalization of $17.44 billion, a P/E ratio of 17.31, a PEG ratio of 2.30 and a beta of 1.42. Owens Corning has a one year low of $137.09 and a one year high of $214.53. The firm’s 50 day simple moving average is $186.20 and its two-hundred day simple moving average is $176.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company earned $4.15 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. As a group, analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio is presently 20.43%.

Analyst Upgrades and Downgrades

Several research analysts have commented on OC shares. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group increased their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Evercore ISI lifted their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.62.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

Owens Corning 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.