Focus Partners Advisor Solutions LLC bought a new position in Owens Corning Inc (NYSE:OC – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,599 shares of the construction company’s stock, valued at approximately $1,208,000.
Several other hedge funds also recently made changes to their positions in the company. Pitcairn Co. boosted its position in Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after buying an additional 80 shares during the period. First Pacific Financial raised its stake in shares of Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after acquiring an additional 85 shares during the last quarter. Viawealth LLC boosted its holdings 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 during the period. Fifth Third Wealth Advisors LLC boosted its holdings 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 during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in shares of Owens Corning by 3.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after purchasing an additional 97 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on OC. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Barclays boosted their target price on Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Citigroup lifted their price target on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.25.
Owens Corning Price Performance
OC opened at $154.95 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The company has a market cap of $12.25 billion, a price-to-earnings ratio of -19.23, a price-to-earnings-growth ratio of 2.33 and a beta of 1.32. The stock has a fifty day simple moving average of $140.25 and a two-hundred day simple moving average of $126.29. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91.
Owens Corning (NYSE:OC – Get Free Report) last announced its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.21 EPS. Research analysts predict that Owens Corning Inc will post 9.9 earnings per share for the current fiscal year.
Owens Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio is -39.21%.
Insider Buying and Selling at Owens Corning
In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning 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 transaction, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.
About Owens Corning
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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