Riverhead Capital Management LLC lowered its stake in shares of Owens Corning (NYSE:OC) by 35.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 83,050 shares of the construction company’s stock after selling 45,490 shares during the period. Riverhead Capital Management LLC owned approximately 0.08% of Owens Corning worth $4,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gradient Investments LLC purchased a new stake in shares of Owens Corning during the 3rd quarter valued at about $138,000. Pendal Group Ltd purchased a new stake in shares of Owens Corning during the 3rd quarter valued at about $145,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $163,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $218,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Shares of OC opened at $49.87 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 0.87. Owens Corning has a 1 year low of $42.88 and a 1 year high of $96.52. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.77 and a beta of 1.13.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.11). Owens Corning had a net margin of 5.33% and a return on equity of 12.37%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Owens Corning will post 4.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Thursday, January 3rd will be issued a dividend of $0.22 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.76%. Owens Corning’s dividend payout ratio (DPR) is 19.09%.

OC has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on shares of Owens Corning in a report on Tuesday, October 2nd. They issued a “buy” rating and a $75.00 target price for the company. Longbow Research reissued a “buy” rating on shares of Owens Corning in a report on Monday, September 24th. Nomura set a $88.00 target price on shares of Owens Corning and gave the stock a “buy” rating in a report on Wednesday, August 29th. Northcoast Research increased their target price on shares of Owens Corning to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 27th. Finally, TheStreet lowered shares of Owens Corning from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $73.87.

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Owens Corning Profile

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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