Pacer Advisors Inc. Sells 372,254 Shares of Owens Corning Inc $OC

Pacer Advisors Inc. lessened its stake in shares of Owens Corning Inc (NYSE:OC) by 97.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,633 shares of the construction company’s stock after selling 372,254 shares during the period. Pacer Advisors Inc.’s holdings in Owens Corning were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in OC. Geneos Wealth Management Inc. grew its holdings in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Owens Corning during the 2nd quarter worth approximately $277,000. EverSource Wealth Advisors LLC raised its holdings in shares of Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock worth $175,000 after acquiring an additional 1,190 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Owens Corning by 294.3% during the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock valued at $2,389,000 after acquiring an additional 12,966 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Owens Corning by 12.2% in the second quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock valued at $421,000 after purchasing an additional 333 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Up 0.1%

Shares of OC opened at $157.22 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The business has a fifty day moving average of $136.74 and a 200 day moving average of $125.16. The company has a market cap of $12.43 billion, a PE ratio of -19.51, a P/E/G ratio of 2.73 and a beta of 1.32. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $4.21 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Owens Corning Inc will post 9.65 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio is presently -39.21%.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on OC. Deutsche Bank Aktiengesellschaft upped their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on shares of Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Barclays upped their target price on shares of Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Bank of America lowered their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.25.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.