Owens Corning Inc $OC Holdings Increased by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC boosted its stake in shares of Owens Corning Inc (NYSE:OC - Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,797 shares of the construction company's stock after buying an additional 6,571 shares during the quarter. Aptus Capital Advisors LLC owned 0.08% of Owens Corning worth $9,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Owens Corning during the first quarter worth about $60,000. Archer Investment Corp grew its position in shares of Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock valued at $94,000 after purchasing an additional 100 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Owens Corning in the first quarter valued at approximately $100,000. Palouse Capital Management Inc. grew its position in shares of Owens Corning by 50.0% in the first quarter. Palouse Capital Management Inc. now owns 786 shares of the construction company's stock valued at $112,000 after purchasing an additional 262 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Owens Corning by 260.8% in the first quarter. Brooklyn Investment Group now owns 783 shares of the construction company's stock valued at $112,000 after purchasing an additional 566 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OC shares. Barclays increased their price target on shares of Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wells Fargo & Company increased their price target on shares of Owens Corning from $165.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Wolfe Research raised shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday, May 9th. Loop Capital cut their price target on shares of Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada cut their price target on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average price target of $184.60.

Owens Corning Stock Up 4.8%

OC traded up $7.1850 during trading hours on Friday, reaching $155.6950. 2,137,163 shares of the stock traded hands, compared to its average volume of 838,952. The firm's fifty day simple moving average is $142.97 and its two-hundred day simple moving average is $145.04. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 10.61 and a beta of 1.32. Owens Corning Inc has a fifty-two week low of $123.40 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95.

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

Owens Corning announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 14th that permits the company to repurchase 12,000,000 outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Monday, July 21st were given a $0.69 dividend. The ex-dividend date was Monday, July 21st. This represents a $2.76 annualized dividend and a yield of 1.8%. Owens Corning's dividend payout ratio (DPR) is currently 71.69%.

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.