Deutsche Bank AG bought a new position in shares of Owens Corning Inc (NYSE:OC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 518,994 shares of the construction company's stock, valued at approximately $82,499,000. Deutsche Bank AG owned 0.64% of Owens Corning as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Pitcairn Co. raised its holdings in Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after buying an additional 80 shares during the period. First Pacific Financial grew its stake in shares of Owens Corning by 2.3% in the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock valued at $406,000 after buying an additional 85 shares in the last quarter. Viawealth LLC lifted its stake in Owens Corning by 3.6% in the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company's stock valued at $287,000 after purchasing an additional 88 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Owens Corning by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock worth $343,000 after acquiring an additional 90 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC raised its holdings in Owens Corning by 3.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company's stock valued at $359,000 after acquiring an additional 97 shares during the period. Institutional investors own 88.40% of the company's stock.
Insider Activity at Owens Corning
In other news, insider Rachel Barthelemy Marcon sold 700 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company's stock.
Owens Corning Price Performance
Shares of NYSE:OC opened at $147.19 on Friday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The company has a market cap of $11.64 billion, a price-to-earnings ratio of -18.26, a PEG ratio of 2.28 and a beta of 1.32. The firm has a 50 day simple moving average of $142.73 and a 200 day simple moving average of $127.15.
Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the previous year, the firm posted $4.21 earnings per share. The company's revenue was up .3% on a year-over-year basis. Research analysts predict that Owens Corning Inc will post 9.9 earnings per share for the current fiscal year.
Owens Corning Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were given a $0.79 dividend. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.1%. Owens Corning's dividend payout ratio (DPR) is currently -39.21%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on OC shares. Evercore reaffirmed an "outperform" rating and set a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. Benchmark restated a "hold" rating on shares of Owens Corning in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Owens Corning from $136.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Finally, Citigroup boosted their price objective on shares of Owens Corning from $149.00 to $177.00 and gave the company a "buy" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.25.
Check Out Our Latest Report on Owens Corning
Owens Corning Company Profile
(
Free Report)
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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