Malaga Cove Capital LLC Has $1.18 Million Stock Holdings in Owens Corning (NYSE:OC)

Malaga Cove Capital LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,687 shares of the construction company’s stock after selling 400 shares during the period. Malaga Cove Capital LLC’s holdings in Owens Corning were worth $1,180,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. increased its position in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Owens Corning during the first quarter worth approximately $31,000. Innealta Capital LLC bought a new position in shares of Owens Corning in the second quarter valued at approximately $32,000. Tobam boosted its holdings in shares of Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Quarry LP grew its position in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Up 1.2 %

Shares of OC stock opened at $184.73 on Thursday. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.20 and a beta of 1.41. Owens Corning has a 12-month low of $120.17 and a 12-month high of $191.44. The firm has a fifty day moving average of $174.98 and a 200-day moving average of $173.36. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last released its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $4.22 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Owens Corning will post 15.34 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.32%.

Analysts Set New Price Targets

OC has been the topic of several research reports. Evercore ISI upped their price target on shares of Owens Corning from $175.00 to $189.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Owens Corning from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Hold” and a consensus target price of $187.77.

Owens Corning Company 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.