2,016 Shares in Owens Corning Inc $OC Bought by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC has acquired a new position in Owens Corning Inc, purchasing 2,016 shares valued at approximately $277,000.
• The company reported $4.21 earnings per share for the most recent quarter, exceeding analyst expectations of $3.80 and achieving a revenue of $2.75 billion.
• Owens Corning has announced a quarterly dividend of $0.69 per share, which will be paid on November 6th, representing an annualized dividend of $2.76 and a yield of 1.9%.

Sivia Capital Partners LLC acquired a new position in Owens Corning Inc (NYSE:OC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,016 shares of the construction company's stock, valued at approximately $277,000.

A number of other large investors also recently modified their holdings of the company. Pallas Capital Advisors LLC grew its position in Owens Corning by 170.2% during the second quarter. Pallas Capital Advisors LLC now owns 3,877 shares of the construction company's stock valued at $533,000 after acquiring an additional 2,442 shares during the last quarter. First Bank & Trust grew its holdings in shares of Owens Corning by 7.9% during the 2nd quarter. First Bank & Trust now owns 3,990 shares of the construction company's stock valued at $549,000 after purchasing an additional 292 shares during the last quarter. Bangor Savings Bank bought a new position in shares of Owens Corning during the 2nd quarter valued at $28,000. Doliver Advisors LP raised its position in Owens Corning by 2.4% in the 2nd quarter. Doliver Advisors LP now owns 9,381 shares of the construction company's stock worth $1,290,000 after purchasing an additional 221 shares during the period. Finally, Kera Capital Partners Inc. bought a new stake in Owens Corning in the second quarter worth $238,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.3%

OC stock traded down $1.86 on Monday, reaching $143.71. The company's stock had a trading volume of 857,046 shares, compared to its average volume of 960,211. The business has a fifty day simple moving average of $147.55 and a two-hundred day simple moving average of $142.52. Owens Corning Inc has a 12-month low of $123.40 and a 12-month high of $214.53. The firm has a market cap of $12.02 billion, a PE ratio of 37.33, a PEG ratio of 10.31 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $4.64 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be issued a $0.69 dividend. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 1.9%. Owens Corning's dividend payout ratio (DPR) is 71.69%.

Analyst Ratings Changes

Several research firms have recently commented on OC. Evercore ISI lifted their price objective on Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a report on Friday, August 8th. Wells Fargo & Company raised their price target on Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Royal Bank Of Canada lowered their price objective on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. UBS Group cut their target price on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Barclays lifted their target price on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $185.10.

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.