Owens Corning (NYSE:OC) Shares Purchased by Globeflex Capital L P

Globeflex Capital L P increased its position in Owens Corning (NYSE:OC) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,217 shares of the construction company’s stock after acquiring an additional 9,538 shares during the period. Owens Corning makes up about 1.3% of Globeflex Capital L P’s portfolio, making the stock its 12th biggest holding. Globeflex Capital L P’s holdings in Owens Corning were worth $10,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ossiam raised its stake in Owens Corning by 369.4% in the 1st quarter. Ossiam now owns 8,525 shares of the construction company’s stock worth $817,000 after acquiring an additional 6,709 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Owens Corning by 3.2% during the 1st quarter. Prospera Financial Services Inc now owns 3,198 shares of the construction company’s stock valued at $306,000 after buying an additional 100 shares during the last quarter. Financial Partners Group LLC purchased a new position in shares of Owens Corning during the 1st quarter valued at about $1,992,000. Stifel Financial Corp raised its stake in shares of Owens Corning by 31.7% during the 1st quarter. Stifel Financial Corp now owns 107,747 shares of the construction company’s stock valued at $10,322,000 after buying an additional 25,906 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Owens Corning by 1,184.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 464,008 shares of the construction company’s stock valued at $44,452,000 after buying an additional 427,872 shares during the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Owens Corning Trading Down 0.1 %

Shares of Owens Corning stock opened at $142.87 on Friday. The stock has a market cap of $12.83 billion, a P/E ratio of 10.13, a P/E/G ratio of 1.34 and a beta of 1.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $137.54 and its 200-day simple moving average is $116.32. Owens Corning has a 1-year low of $74.22 and a 1-year high of $147.00.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $4.22 EPS for the quarter, beating the consensus estimate of $3.25 by $0.97. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.83 EPS. Analysts predict that Owens Corning will post 13.59 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Monday, July 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, July 14th. Owens Corning’s payout ratio is 14.74%.

Wall Street Analyst Weigh In

OC has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on Owens Corning from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. StockNews.com lowered Owens Corning from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 28th. Citigroup lifted their price target on Owens Corning from $132.00 to $134.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. Loop Capital lifted their price target on Owens Corning from $138.00 to $157.00 in a research note on Thursday, July 27th. Finally, The Goldman Sachs Group upgraded Owens Corning from a “sell” rating to a “neutral” rating and lifted their price target for the company from $113.00 to $150.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.57.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, Director W Howard Morris sold 1,033 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $141.63, for a total value of $146,303.79. Following the sale, the director now owns 40,889 shares of the company’s stock, valued at $5,791,109.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Todd W. Fister sold 5,375 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.23, for a total transaction of $732,236.25. Following the sale, the insider now owns 26,067 shares of the company’s stock, valued at $3,551,107.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Howard Morris sold 1,033 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $141.63, for a total value of $146,303.79. Following the sale, the director now directly owns 40,889 shares in the company, valued at approximately $5,791,109.07. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

About Owens Corning

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, 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.