Diversify Advisory Services LLC Purchases New Holdings in Owens Corning Inc $OC

Diversify Advisory Services LLC acquired a new position in shares of Owens Corning Inc (NYSE:OCFree Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,476 shares of the construction company’s stock, valued at approximately $499,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BNP Paribas Financial Markets increased its position in Owens Corning by 178.2% during the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after buying an additional 119,566 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Owens Corning in the first quarter worth $2,576,000. Raiffeisen Bank International AG grew its stake in shares of Owens Corning by 12.4% in the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after acquiring an additional 38,885 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock valued at $27,355,000 after acquiring an additional 23,873 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Owens Corning by 460.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after acquiring an additional 1,078,877 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Citigroup upped their price target on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wells Fargo & Company lifted their target price on shares of Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Finally, Evercore reissued an “outperform” rating and set a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Read Our Latest Analysis on OC

Owens Corning Stock Performance

Shares of OC stock opened at $147.19 on Friday. The company has a 50 day moving average price of $142.73 and a 200-day moving average price of $127.15. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The firm has a market capitalization of $11.64 billion, a PE ratio of -18.26, a P/E/G ratio of 2.28 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion during 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 firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $4.21 earnings per share. As a group, equities research analysts expect that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s payout ratio is currently -39.21%.

Insiders Place Their Bets

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Profile

(Free Report)

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

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