Williams Financial LLC Purchases Shares of 1,704 Owens Corning (NYSE:OC)

Williams Financial LLC bought a new position in shares of Owens Corning (NYSE:OC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,704 shares of the construction company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OC. MV Capital Management Inc. boosted its stake in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. NBC Securities Inc. bought a new stake in Owens Corning in the 1st quarter valued at $26,000. ST Germain D J Co. Inc. boosted its stake in Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Riverview Trust Co bought a new stake in Owens Corning in the 1st quarter valued at $28,000. Finally, ORG Partners LLC bought a new stake in Owens Corning in the 1st quarter valued at $31,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Down 1.4 %

Shares of OC stock traded down $2.25 on Friday, hitting $159.58. The company had a trading volume of 551,186 shares, compared to its average volume of 676,568. The firm has a market cap of $13.83 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.62 and a beta of 1.42. The stock’s 50-day moving average is $171.84 and its two-hundred day moving average is $166.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm posted $4.22 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Owens Corning will post 15.63 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.50%. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Monaco Nicolas Del sold 3,423 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the sale, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock valued at $3,437,315 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on OC shares. Royal Bank of Canada boosted their price target on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com cut Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Barclays lowered their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Jefferies Financial Group began coverage on Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Finally, UBS Group upped their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Profile

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.