Skylands Capital LLC Sells 7,275 Shares of Owens Corning Inc $OC

Skylands Capital LLC lowered its position in shares of Owens Corning Inc (NYSE:OC) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,745 shares of the construction company’s stock after selling 7,275 shares during the quarter. Owens Corning accounts for 1.9% of Skylands Capital LLC’s holdings, making the stock its 13th biggest position. Skylands Capital LLC’s holdings in Owens Corning were worth $14,149,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OC. Vanguard Group Inc. raised its holdings in shares of Owens Corning by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock valued at $1,092,883,000 after purchasing an additional 84,096 shares during the last quarter. State Street Corp boosted its holdings in Owens Corning by 2.3% during the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock worth $514,205,000 after purchasing an additional 81,133 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Owens Corning by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after purchasing an additional 231,871 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock valued at $288,332,000 after purchasing an additional 645,773 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in Owens Corning by 15.1% in the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock valued at $229,035,000 after buying an additional 269,216 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Stock Down 0.7%

Owens Corning stock opened at $135.28 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. The company’s 50-day moving average is $122.08 and its 200-day moving average is $119.05. The firm has a market capitalization of $10.89 billion, a PE ratio of -20.47, a P/E/G ratio of 2.46 and a beta of 1.34. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.97 earnings per share. Sell-side analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. Owens Corning’s payout ratio is presently -47.81%.

Analysts Set New Price Targets

Several brokerages have commented on OC. Royal Bank Of Canada boosted their price target on shares of Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Wells Fargo & Company lifted their target price on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Bank of America dropped their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. JPMorgan Chase & Co. increased their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Barclays boosted their price target on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.

Owens Corning Company Profile

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.