Kingsview Wealth Management LLC Acquires 2,131 Shares of Owens Corning (NYSE:OC)

Kingsview Wealth Management LLC increased its holdings in Owens Corning (NYSE:OC) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,520 shares of the construction company’s stock after buying an additional 2,131 shares during the period. Kingsview Wealth Management LLC owned 0.06% of Owens Corning worth $9,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of OC. ST Germain D J Co. Inc. boosted its holdings 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. Innealta Capital LLC bought a new position in Owens Corning in the 2nd quarter valued at $32,000. Tobam boosted its holdings in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Quarry LP boosted its holdings in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the period. Finally, Friedenthal Financial bought a new position in Owens Corning in the 2nd quarter valued at $48,000. 88.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares in the company, valued at $10,222,100. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 2.6 %

NYSE:OC opened at $202.77 on Friday. The firm has a market capitalization of $17.39 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $131.61 and a one year high of $203.40. The company’s 50-day simple moving average is $182.76 and its 200 day simple moving average is $175.40.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.15 earnings per share. As a group, analysts forecast that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Wall Street Analyst Weigh In

Several brokerages have commented on OC. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

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.