Arete Wealth Advisors LLC purchased a new stake in shares of Owens Corning Inc (NYSE:OC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,201 shares of the construction company's stock, valued at approximately $600,000.
A number of other institutional investors have also made changes to their positions in OC. Wayfinding Financial LLC acquired a new stake in shares of Owens Corning during the first quarter valued at about $60,000. Archer Investment Corp grew its holdings 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 in the last quarter. Quarry LP grew its holdings in Owens Corning by 36.0% during the 1st quarter. Quarry LP now owns 676 shares of the construction company's stock worth $97,000 after acquiring an additional 179 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Owens Corning during the 1st quarter worth approximately $100,000. Finally, Palouse Capital Management Inc. grew its holdings in Owens Corning by 50.0% during the 1st quarter. Palouse Capital Management Inc. now owns 786 shares of the construction company's stock worth $112,000 after acquiring an additional 262 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.
Owens Corning Trading Down 3.4%
NYSE OC traded down $5.33 during mid-day trading on Friday, hitting $152.36. The company's stock had a trading volume of 583,090 shares, compared to its average volume of 902,867. Owens Corning Inc has a 52-week low of $123.40 and a 52-week high of $214.53. The stock's fifty day simple moving average is $147.39 and its two-hundred day simple moving average is $142.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm has a market capitalization of $12.74 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 11.17 and a beta of 1.32.
Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $4.64 earnings per share. Owens Corning's revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts expect that Owens Corning Inc will post 15.49 EPS for the current year.
Owens Corning Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Monday, July 21st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.8%. Owens Corning's dividend payout ratio (DPR) is presently 71.69%.
Wall Street Analysts Forecast Growth
OC has been the subject of several recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Evercore ISI upped their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Wells Fargo & Company upped their price target on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group lowered their price target on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Barclays increased their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.10.
Get Our Latest Stock Analysis on Owens Corning
Owens Corning Company Profile
(
Free Report)
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.
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