Owens Corning (NYSE:OC) Shares Purchased by Stephens Inc. AR

Stephens Inc. AR raised its position in Owens Corning (NYSE:OCGet Rating) by 90.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,522 shares of the construction company’s stock after purchasing an additional 2,148 shares during the quarter. Stephens Inc. AR’s holdings in Owens Corning were worth $414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sageworth Trust Co of South Dakota purchased a new position in Owens Corning during the 4th quarter worth $33,000. UMB Bank N A MO acquired a new position in Owens Corning during the fourth quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Owens Corning during the first quarter valued at approximately $37,000. Confluence Wealth Services Inc. bought a new stake in shares of Owens Corning in the fourth quarter worth $41,000. Finally, Quent Capital LLC acquired a new position in Owens Corning in the fourth quarter worth $48,000. 92.55% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.0 %

NYSE OC opened at $88.39 on Thursday. The stock’s 50-day moving average is $84.29 and its 200-day moving average is $88.76. Owens Corning has a one year low of $72.97 and a one year high of $101.12. The firm has a market cap of $8.51 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.23.

Owens Corning (NYSE:OCGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.52. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.58 billion. Owens Corning had a return on equity of 26.22% and a net margin of 12.20%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. Sell-side analysts anticipate that Owens Corning will post 12.3 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 4th. Investors of record on Monday, July 18th will be paid a $0.35 dividend. The ex-dividend date is Friday, July 15th. This represents a $1.40 annualized dividend and a yield of 1.58%. Owens Corning’s dividend payout ratio (DPR) is presently 12.44%.

Insider Activity at Owens Corning

In other Owens Corning news, VP Kelly Schmidt sold 1,940 shares of Owens Corning stock in a transaction on Friday, July 29th. The stock was sold at an average price of $91.93, for a total value of $178,344.20. Following the completion of the transaction, the vice president now directly owns 15,083 shares of the company’s stock, valued at approximately $1,386,580.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OC shares. The Goldman Sachs Group reduced their price target on shares of Owens Corning from $90.00 to $77.00 and set a “sell” rating for the company in a report on Thursday, June 23rd. Loop Capital cut their price objective on Owens Corning from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, April 8th. UBS Group dropped their target price on Owens Corning from $137.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Wells Fargo & Company upped their target price on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Finally, Barclays cut their price target on Owens Corning from $100.00 to $91.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.92.

Owens Corning Profile

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Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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

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