Iridian Asset Management LLC CT reduced its position in Owens Corning Inc (NYSE:OC) by 19.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,173,008 shares of the construction company’s stock after selling 759,642 shares during the period. Owens Corning comprises approximately 2.1% of Iridian Asset Management LLC CT’s holdings, making the stock its 16th largest position. Iridian Asset Management LLC CT owned approximately 2.85% of Owens Corning worth $245,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TIAA FSB bought a new stake in Owens Corning in the 3rd quarter worth approximately $3,022,000. Geneva Advisors LLC grew its position in shares of Owens Corning by 6.2% during the 2nd quarter. Geneva Advisors LLC now owns 10,380 shares of the construction company’s stock valued at $695,000 after acquiring an additional 603 shares during the period. Marshall Wace North America L.P. grew its position in shares of Owens Corning by 317.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 92,940 shares of the construction company’s stock valued at $6,227,000 after acquiring an additional 70,667 shares during the period. Aviva PLC grew its position in shares of Owens Corning by 14.3% during the 2nd quarter. Aviva PLC now owns 39,967 shares of the construction company’s stock valued at $2,674,000 after acquiring an additional 5,000 shares during the period. Finally, Northpointe Capital LLC grew its position in shares of Owens Corning by 4.6% during the 2nd quarter. Northpointe Capital LLC now owns 40,348 shares of the construction company’s stock valued at $2,700,000 after acquiring an additional 1,778 shares during the period. Institutional investors own 97.61% of the company’s stock.

In other news, VP Ava Harter sold 487 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total transaction of $39,914.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kelly Schmidt sold 1,462 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. Insiders sold a total of 198,779 shares of company stock worth $14,735,728 over the last 90 days. Insiders own 1.80% of the company’s stock.

Shares of Owens Corning Inc (NYSE OC) traded up $1.60 during trading hours on Friday, reaching $83.79. 1,514,500 shares of the company traded hands, compared to its average volume of 1,009,909. The company has a market cap of $9,142.90, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. Owens Corning Inc has a one year low of $50.77 and a one year high of $84.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Owens Corning had a return on equity of 11.40% and a net margin of 6.15%. Owens Corning’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. analysts predict that Owens Corning Inc will post 4.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th were paid a $0.20 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. Owens Corning’s dividend payout ratio is currently 23.88%.

OC has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “buy” rating and set a $79.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Owens Corning in a research note on Thursday, July 27th. KeyCorp restated a “buy” rating and set a $84.00 target price on shares of Owens Corning in a research note on Wednesday, September 13th. Finally, SunTrust Banks, Inc. restated a “hold” rating on shares of Owens Corning in a research note on Tuesday, September 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $76.95.

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Owens Corning Profile

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.

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

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