Globeflex Capital L P reduced its stake in Owens Corning (NYSE:OC) by 55.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,092 shares of the construction company’s stock after selling 16,397 shares during the period. Globeflex Capital L P’s holdings in Owens Corning were worth $830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Owens Corning during the second quarter valued at $127,000. Balter Liquid Alternatives LLC purchased a new stake in shares of Owens Corning during the first quarter valued at $162,000. Element Capital Management LLC purchased a new stake in shares of Owens Corning during the first quarter valued at $237,000. Mariner LLC purchased a new stake in shares of Owens Corning during the first quarter valued at $241,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Owens Corning during the first quarter valued at $249,000.

NYSE OC opened at $56.63 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 1.59. Owens Corning has a 52 week low of $56.25 and a 52 week high of $96.52. The stock has a market capitalization of $6.45 billion, a PE ratio of 12.87, a P/E/G ratio of 0.67 and a beta of 1.04.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, July 25th. The construction company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.28). Owens Corning had a return on equity of 11.72% and a net margin of 4.47%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business earned $1.20 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. equities analysts predict that Owens Corning will post 5.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 2nd. Stockholders of record on Tuesday, July 17th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, July 16th. Owens Corning’s dividend payout ratio (DPR) is currently 19.09%.

In other news, Director W Howard Morris sold 1,514 shares of the firm’s stock in a transaction dated 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 owns 36,332 shares of the company’s stock, valued at $2,124,332.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Several research analysts have issued reports on OC shares. Argus cut Owens Corning from a “buy” rating to a “hold” rating and raised their target price for the stock from $96.52 to $109.00 in a research report on Friday, June 1st. Wells Fargo & Co cut Owens Corning from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $96.52 to $59.96 in a research report on Monday, May 14th. Zelman & Associates raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, June 19th. ValuEngine cut Owens Corning from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Finally, Seaport Global Securities set a $72.00 target price on Owens Corning and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $80.05.

About Owens Corning

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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