Symmetry Partners LLC boosted its stake in Owens Corning (NYSE:OC – Free Report) by 37.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,061 shares of the construction company’s stock after purchasing an additional 2,210 shares during the quarter. Symmetry Partners LLC’s holdings in Owens Corning were worth $1,052,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Owens Corning in the 1st quarter valued at approximately $27,000. Belpointe Asset Management LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in Owens Corning by 87.8% during the first quarter. Allworth Financial LP now owns 353 shares of the construction company’s stock worth $34,000 after purchasing an additional 165 shares during the last quarter. Power Corp of Canada acquired a new stake in shares of Owens Corning in the 1st quarter valued at $34,000. Finally, Compass Wealth Management LLC bought a new position in shares of Owens Corning in the 4th quarter valued at $34,000. Institutional investors own 90.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Bank of America raised their price objective on Owens Corning from $127.00 to $152.00 in a research note on Friday, July 14th. The Goldman Sachs Group raised shares of 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 report on Thursday, September 7th. JPMorgan Chase & Co. raised shares of Owens Corning from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $133.00 in a research note on Friday, July 28th. Argus upped their price target on shares of Owens Corning from $120.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, Jefferies Financial Group increased their price target on Owens Corning from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. 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, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $141.57.
Insider Buying and Selling
In other Owens Corning news, insider Todd W. Fister sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $136.23, for a total value of $732,236.25. Following the transaction, the insider now directly owns 26,067 shares of the company’s stock, valued at $3,551,107.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Owens Corning news, insider Todd W. Fister sold 5,375 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $136.23, for a total value of $732,236.25. Following the completion of the sale, the insider now directly owns 26,067 shares in the company, valued at $3,551,107.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Howard Morris sold 1,033 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $141.63, for a total transaction of $146,303.79. Following the transaction, the director now 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 currently owned by insiders.
Owens Corning Stock Performance
Shares of OC stock opened at $139.63 on Friday. The stock has a market capitalization of $12.54 billion, a PE ratio of 9.90, a PEG ratio of 1.28 and a beta of 1.49. The business’s 50 day simple moving average is $138.38 and its 200 day simple moving average is $117.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 1.37. Owens Corning has a one year low of $74.22 and a one year high of $147.00.
Owens Corning (NYSE:OC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $3.25 by $0.97. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm posted $3.83 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts forecast that Owens Corning will post 13.59 earnings per share for the current year.
Owens Corning Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Monday, October 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.49%. Owens Corning’s payout ratio is currently 14.74%.
Owens Corning Profile
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.
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