KBC Group NV Sells 72,170 Shares of Owens Corning (NYSE:OC)

KBC Group NV reduced its stake in Owens Corning (NYSE:OC) by 28.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,706 shares of the construction company’s stock after selling 72,170 shares during the period. KBC Group NV owned 0.21% of Owens Corning worth $32,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Freemont Management S.A. purchased a new position in shares of Owens Corning in the 3rd quarter valued at approximately $1,589,000. Empower Advisory Group LLC lifted its position in Owens Corning by 1.1% during the third quarter. Empower Advisory Group LLC now owns 506,882 shares of the construction company’s stock valued at $89,475,000 after buying an additional 5,757 shares during the period. Victory Capital Management Inc. lifted its position in Owens Corning by 54.1% during the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company’s stock valued at $92,320,000 after buying an additional 183,666 shares during the period. Aptus Capital Advisors LLC grew its position in shares of Owens Corning by 12.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 53,547 shares of the construction company’s stock worth $9,452,000 after buying an additional 5,844 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Owens Corning by 7.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,784 shares of the construction company’s stock worth $315,000 after acquiring an additional 116 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Shares of OC stock opened at $195.26 on Friday. The firm has a market capitalization of $16.75 billion, a PE ratio of 16.62, a P/E/G ratio of 2.20 and a beta of 1.41. The company has a 50 day moving average price of $178.38 and a 200-day moving average price of $174.39. Owens Corning has a 52 week low of $128.79 and a 52 week high of $199.54. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the company posted $4.15 EPS. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OC shares. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.62.

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.