Public Employees Retirement Association of Colorado lowered its stake in Owens Corning Inc (NYSE:OC) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,105 shares of the construction company’s stock after selling 147 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Owens Corning were worth $1,412,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Personal Capital Advisors Corp purchased a new stake in shares of Owens Corning during the first quarter valued at $227,000. Suntrust Banks Inc. raised its stake in shares of Owens Corning by 328.1% in the first quarter. Suntrust Banks Inc. now owns 32,675 shares of the construction company’s stock valued at $2,004,000 after buying an additional 25,042 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Owens Corning by 554.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,351 shares of the construction company’s stock valued at $994,000 after buying an additional 13,851 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Owens Corning by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 472,051 shares of the construction company’s stock valued at $28,969,000 after buying an additional 68,626 shares during the last quarter. Finally, TLP Group LLC raised its stake in shares of Owens Corning by 75.3% in the first quarter. TLP Group LLC now owns 6,282 shares of the construction company’s stock valued at $386,000 after buying an additional 2,699 shares during the last quarter.

Owens Corning Inc (NYSE OC) opened at 67.74 on Friday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 19.46 and a beta of 1.11. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $68.88. The firm has a 50-day moving average price of $66.56 and a 200-day moving average price of $62.12.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, analysts expect that Owens Corning Inc will post $4.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, July 13th. Owens Corning’s dividend payout ratio is presently 23.05%.

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Several analysts recently commented on OC shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research note on Friday, July 28th. Barclays PLC boosted their price target on Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Owens Corning in a research note on Sunday, July 9th. Northcoast Research set a $76.00 price target on Owens Corning and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Instinet reaffirmed a “buy” rating and issued a $74.00 price target on shares of Owens Corning in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $70.53.

In related news, insider Arnaud Genis sold 21,544 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the sale, the insider now owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Chambers sold 16,600 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the sale, the insider now directly owns 39,957 shares in the company, valued at approximately $2,684,311.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,144 shares of company stock worth $2,654,227. Company 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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