Bull Harbor Capital LLC acquired a new position in shares of Owens Corning Inc (NYSE:OC – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,812 shares of the construction company’s stock, valued at approximately $521,000.
A number of other institutional investors have also recently bought and sold shares of OC. Pitcairn Co. increased its stake in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after purchasing an additional 80 shares in the last quarter. First Pacific Financial raised its holdings in Owens Corning by 2.3% in the first quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock worth $406,000 after purchasing an additional 85 shares during the period. Viawealth LLC boosted its position in shares of Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after purchasing an additional 88 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after purchasing an additional 90 shares in the last quarter. Finally, Groupama Asset Managment grew its holdings in shares of Owens Corning by 1.8% in the 4th quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock valued at $689,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.
Wall Street Analysts Forecast Growth
OC has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Finally, Evercore reaffirmed an “outperform” rating and set a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.92.
Owens Corning Stock Up 0.2%
Owens Corning stock opened at $139.13 on Friday. The company has a 50 day moving average of $133.95 and a 200-day moving average of $124.23. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The stock has a market capitalization of $11.20 billion, a PE ratio of -21.05, a price-to-earnings-growth ratio of 2.69 and a beta of 1.30.
Owens Corning (NYSE:OC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the business posted $2.97 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Owens Corning Inc will post 9.55 EPS for the current fiscal year.
Owens Corning Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio is -47.81%.
Insider Transactions at Owens Corning
In other news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.
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.
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