ANTIPODES PARTNERS Ltd Reduces Position in Owens Corning (NYSE:OC)

ANTIPODES PARTNERS Ltd lessened its position in shares of Owens Corning (NYSE:OC) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,760 shares of the construction company’s stock after selling 82,441 shares during the quarter. Owens Corning comprises 1.6% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 23rd biggest holding. ANTIPODES PARTNERS Ltd owned approximately 0.49% of Owens Corning worth $33,354,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in OC. Quantamental Technologies LLC purchased a new position in shares of Owens Corning in the 2nd quarter valued at $33,000. Private Capital Group LLC increased its holdings in shares of Owens Corning by 95.8% in the 2nd quarter. Private Capital Group LLC now owns 793 shares of the construction company’s stock valued at $50,000 after acquiring an additional 388 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Owens Corning by 103.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,052 shares of the construction company’s stock valued at $65,000 after acquiring an additional 536 shares during the period. MUFG Americas Holdings Corp purchased a new position in shares of Owens Corning in the 2nd quarter valued at $76,000. Finally, NEXT Financial Group Inc grew its stake in Owens Corning by 105.1% during the 2nd quarter. NEXT Financial Group Inc now owns 1,641 shares of the construction company’s stock worth $96,000 after buying an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 99.25% of the company’s stock.

In other Owens Corning news, Director W Howard Morris sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $65.16, for a total value of $65,160.00. Following the transaction, the director now owns 37,766 shares in the company, valued at approximately $2,460,832.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kelly Schmidt sold 1,589 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.53, for a total transaction of $96,182.17. Following the sale, the vice president now owns 15,264 shares in the company, valued at approximately $923,929.92. The disclosure for this sale can be found here. Insiders sold a total of 65,558 shares of company stock valued at $4,093,346 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Several analysts have weighed in on OC shares. Deutsche Bank started coverage on Owens Corning in a research note on Wednesday, November 20th. They set a “buy” rating and a $75.00 price target on the stock. Exane BNP Paribas assumed coverage on Owens Corning in a report on Wednesday, October 9th. They issued an “outperform” rating for the company. Argus raised Owens Corning from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, October 29th. SunTrust Banks boosted their price objective on Owens Corning from $58.00 to $62.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Wells Fargo & Co raised Owens Corning from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.11.

OC traded down $0.44 during trading on Wednesday, reaching $65.43. The company’s stock had a trading volume of 2,960,972 shares, compared to its average volume of 1,608,253. The company’s fifty day moving average price is $64.31 and its 200-day moving average price is $57.77. Owens Corning has a 52-week low of $40.64 and a 52-week high of $68.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.69. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.13. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $1.54 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 4.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Tuesday, October 15th were paid a $0.22 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.88 annualized dividend and a yield of 1.34%. Owens Corning’s payout ratio is currently 17.81%.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial 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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