Trexquant Investment LP decreased its position in Owens Corning Inc (NYSE:OC) by 69.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,300 shares of the construction company’s stock after selling 26,100 shares during the period. Trexquant Investment LP’s holdings in Owens Corning were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Trust N.A. boosted its position in shares of Owens Corning by 45.6% in the first quarter. Raymond James Trust N.A. now owns 7,088 shares of the construction company’s stock worth $435,000 after buying an additional 2,219 shares in the last quarter. Murphy Capital Management Inc. boosted its position in shares of Owens Corning by 7.6% in the first quarter. Murphy Capital Management Inc. now owns 6,400 shares of the construction company’s stock worth $392,000 after buying an additional 450 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Owens Corning by 15.4% in the first quarter. Bank of Montreal Can now owns 1,108,114 shares of the construction company’s stock worth $68,006,000 after buying an additional 148,259 shares in the last quarter. CrestPoint Capital Management LLC boosted its position in shares of Owens Corning by 3.3% in the first quarter. CrestPoint Capital Management LLC now owns 12,500 shares of the construction company’s stock worth $767,000 after buying an additional 400 shares in the last quarter. Finally, BKD Wealth Advisors LLC acquired a new position in shares of Owens Corning during the first quarter worth approximately $325,000.

Shares of Owens Corning Inc (OC) opened at 67.21 on Friday. The firm’s 50-day moving average is $66.52 and its 200-day moving average is $62.02. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 19.31 and a beta of 1.11. Owens Corning Inc has a 12-month low of $46.45 and a 12-month high of $68.88.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Analysts predict that Owens Corning Inc will post $4.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, July 13th. Owens Corning’s dividend payout ratio (DPR) is currently 23.05%.

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A number of research analysts have commented on OC shares. Royal Bank Of Canada restated a “buy” rating and set a $67.00 price target on shares of Owens Corning in a research note on Friday, April 21st. FBR & Co raised their price target on shares of Owens Corning from $61.00 to $63.00 and gave the stock a “mkt perform” rating in a research note on Friday, April 28th. Jefferies Group LLC raised their price target on shares of Owens Corning from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Stifel Nicolaus raised their price target on shares of Owens Corning from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, Instinet restated a “buy” rating and set a $74.00 price target on shares of Owens Corning in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.53.

In other Owens Corning news, Director James J. Mcmonagle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the transaction, the director now directly owns 50,906 shares in the company, valued at approximately $3,288,527.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the transaction, the insider now owns 80,143 shares of the company’s stock, valued at $5,244,557.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,144 shares of company stock valued at $2,654,227. Corporate insiders own 1.80% of the company’s stock.

About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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