Steward Partners Investment Advisory LLC Takes Position in Owens Corning (NYSE:OC)

Steward Partners Investment Advisory LLC acquired a new stake in shares of Owens Corning (NYSE:OCGet Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 400 shares of the construction company’s stock, valued at approximately $37,000.

Several other institutional investors have also bought and sold shares of the stock. First Bank & Trust boosted its stake in Owens Corning by 3.6% in the 1st quarter. First Bank & Trust now owns 3,461 shares of the construction company’s stock valued at $316,000 after buying an additional 121 shares in the last quarter. Convergence Investment Partners LLC boosted its stake in Owens Corning by 7.6% in the 1st quarter. Convergence Investment Partners LLC now owns 1,860 shares of the construction company’s stock valued at $170,000 after buying an additional 132 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Owens Corning by 1.0% in the 4th quarter. CIBC World Markets Inc. now owns 15,140 shares of the construction company’s stock valued at $1,370,000 after buying an additional 146 shares in the last quarter. Fifth Third Bancorp boosted its stake in Owens Corning by 33.7% in the 1st quarter. Fifth Third Bancorp now owns 663 shares of the construction company’s stock valued at $61,000 after buying an additional 167 shares in the last quarter. Finally, Roosevelt Investment Group LLC boosted its stake in Owens Corning by 3.8% in the fourth quarter. Roosevelt Investment Group LLC now owns 5,742 shares of the construction company’s stock worth $520,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.

Insider Transactions at Owens Corning

In other news, VP Kelly Schmidt sold 1,940 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $91.93, for a total transaction 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 $1,386,580.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.44% of the stock is owned by insiders.

Owens Corning Stock Up 0.7 %

OC stock opened at $88.99 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.23. The stock has a market capitalization of $8.56 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.76 and a beta of 1.51. The business has a 50-day moving average of $84.17 and a 200-day moving average of $88.72. Owens Corning has a fifty-two week low of $72.97 and a fifty-two week high of $101.12.

Owens Corning (NYSE:OCGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.52. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Owens Corning had a return on equity of 26.22% and a net margin of 12.20%. Owens Corning’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, sell-side analysts anticipate that Owens Corning will post 12.41 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 4th. Stockholders of record on Monday, July 18th were given a dividend of $0.35 per share. The ex-dividend date was Friday, July 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.57%. Owens Corning’s dividend payout ratio is currently 12.44%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OC. The Goldman Sachs Group reduced their price objective on Owens Corning from $90.00 to $77.00 and set a “sell” rating on the stock in a research note on Thursday, June 23rd. Barclays reduced their price objective on Owens Corning from $100.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Wells Fargo & Company boosted their price objective on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $102.00 to $86.00 in a research note on Friday, July 15th. Finally, StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Hold” and an average price target of $102.92.

About Owens Corning

(Get Rating)

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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