Owens Corning (NYSE:OC) Shares Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC grew its holdings in Owens Corning (NYSE:OC) by 218.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,259 shares of the construction company’s stock after buying an additional 4,292 shares during the period. Capstone Investment Advisors LLC’s holdings in Owens Corning were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. MV Capital Management Inc. increased its position in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning during the first quarter worth about $26,000. Contravisory Investment Management Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning during the fourth quarter worth about $27,000. Finally, Riverview Trust Co acquired a new stake in Owens Corning during the first quarter worth about $28,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OC has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Barclays lifted their price target on shares of Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, June 3rd. Loop Capital lifted their price target on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Evercore ISI lifted their price target on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday, April 25th. Finally, Citigroup lifted their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Activity

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now directly owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,360 shares of company stock worth $3,437,315. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Down 1.6 %

NYSE OC traded down $2.71 on Friday, hitting $165.64. 763,684 shares of the stock were exchanged, compared to its average volume of 596,216. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00. The company has a market cap of $14.35 billion, a PE ratio of 13.41, a PEG ratio of 5.01 and a beta of 1.42. The company has a 50-day moving average price of $175.64 and a 200-day moving average price of $162.20.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business posted $2.77 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts anticipate that Owens Corning will post 15.48 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, July 15th. Owens Corning’s payout ratio is 19.43%.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.