Aptus Capital Advisors LLC Purchases 9,947 Shares of Owens Corning Inc $OC

Key Points

• Aptus Capital Advisors increased its stake in Owens Corning by 13.2% in Q3, buying 9,947 shares to hold 85,583 shares (about 0.10% of the company) worth roughly $12.1 million.
• Analysts' sentiment is mixed but tilts positive: the stock has a consensus rating of "Moderate Buy" with a consensus price target of $151.58, while individual targets range from about $113 to $143 and include several recent upgrades and downgrades.
• Owens Corning recently missed quarterly estimates (EPS $1.10 vs. $1.36 consensus) and reported a negative net margin (-5.17%) and negative P/E, yet it pays a quarterly dividend of $0.79 (annualized $3.16, ~2.9% yield).

Aptus Capital Advisors LLC raised its position in Owens Corning Inc (NYSE:OC - Free Report) by 13.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,583 shares of the construction company's stock after buying an additional 9,947 shares during the quarter. Aptus Capital Advisors LLC owned about 0.10% of Owens Corning worth $12,107,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company's stock worth $69,000 after purchasing an additional 184 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Owens Corning during the 2nd quarter worth $277,000. Assetmark Inc. boosted its stake in Owens Corning by 51.0% in the second quarter. Assetmark Inc. now owns 299 shares of the construction company's stock valued at $41,000 after buying an additional 101 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in Owens Corning by 11.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 29,400 shares of the construction company's stock valued at $4,045,000 after buying an additional 2,955 shares in the last quarter. Finally, Savant Capital LLC grew its position in Owens Corning by 379.8% in the second quarter. Savant Capital LLC now owns 10,666 shares of the construction company's stock valued at $1,467,000 after acquiring an additional 8,443 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on OC shares. Barclays increased their target price on shares of Owens Corning from $130.00 to $138.00 and gave the stock an "overweight" rating in a report on Thursday, January 15th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a research report on Friday, January 9th. Citigroup dropped their price objective on shares of Owens Corning from $137.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $157.00 to $113.00 and set a "neutral" rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Owens Corning in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $151.58.

Owens Corning Stock Performance

OC stock opened at $109.71 on Friday. The firm has a market cap of $8.82 billion, a PE ratio of -17.14, a price-to-earnings-growth ratio of 1.80 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $123.54 and a 200-day moving average price of $126.41. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.26). The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm's revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.22 EPS. As a group, equities research analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.9%. Owens Corning's dividend payout ratio (DPR) is -49.38%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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