Owens Corning (NYSE:OC) Shares Purchased by Financial Partners Group LLC

Financial Partners Group LLC raised its holdings in shares of Owens Corning (NYSE:OC) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,889 shares of the construction company’s stock after purchasing an additional 92 shares during the period. Owens Corning comprises about 1.4% of Financial Partners Group LLC’s portfolio, making the stock its 23rd largest holding. Financial Partners Group LLC’s holdings in Owens Corning were worth $2,726,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OC. Harvest Fund Management Co. Ltd acquired a new position in Owens Corning during the 2nd quarter valued at approximately $25,000. Power Corp of Canada bought a new position in shares of Owens Corning during the first quarter worth about $34,000. Compass Wealth Management LLC acquired a new stake in shares of Owens Corning in the 4th quarter worth about $34,000. Mendota Financial Group LLC bought a new stake in Owens Corning in the 2nd quarter valued at about $39,000. Finally, Desjardins Global Asset Management Inc. lifted its position in Owens Corning by 100.0% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 310 shares of the construction company’s stock valued at $40,000 after purchasing an additional 155 shares during the last quarter. 90.22% of the stock is currently owned by institutional investors.

Owens Corning Trading Up 1.6 %

Shares of NYSE:OC traded up $2.08 during midday trading on Friday, reaching $131.37. The company had a trading volume of 844,716 shares, compared to its average volume of 937,420. The company has a fifty day simple moving average of $128.57 and a two-hundred day simple moving average of $127.55. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.20 and a beta of 1.49. Owens Corning has a 1-year low of $83.98 and a 1-year high of $147.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.49 and a current ratio of 2.16.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 25th. The construction company reported $4.15 EPS for the quarter, topping the consensus estimate of $3.89 by $0.26. Owens Corning had a net margin of 12.31% and a return on equity of 25.59%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the company posted $3.57 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts predict that Owens Corning will post 13.75 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Monday, October 16th were given a $0.52 dividend. The ex-dividend date was Friday, October 13th. This represents a $2.08 annualized dividend and a dividend yield of 1.58%. Owens Corning’s dividend payout ratio (DPR) is presently 16.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Owens Corning from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $95.00 to $133.00 in a research report on Friday, July 28th. Citigroup raised their price target on Owens Corning from $132.00 to $134.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $168.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Barclays lowered their target price on shares of Owens Corning from $185.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Finally, The Goldman Sachs Group raised shares of Owens Corning from a “sell” rating to a “neutral” rating and upped their price target for the stock from $113.00 to $150.00 in a research note on Thursday, September 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

Insider Buying and Selling

In other Owens Corning news, Director W Howard Morris sold 350 shares of Owens Corning stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $122.05, for a total transaction of $42,717.50. Following the transaction, the director now owns 41,045 shares of the company’s stock, valued at approximately $5,009,542.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Todd W. Fister sold 5,375 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $136.23, for a total transaction of $732,236.25. Following the completion of the sale, the insider now directly owns 26,067 shares of the company’s stock, valued at approximately $3,551,107.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Howard Morris sold 350 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $122.05, for a total value of $42,717.50. Following the completion of the sale, the director now directly owns 41,045 shares of the company’s stock, valued at approximately $5,009,542.25. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning Company 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.