Owens Corning (NYSE:OC) Shares Bought by Quarry LP

Quarry LP grew its stake in shares of Owens Corning (NYSE:OC) by 165.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231 shares of the construction company’s stock after acquiring an additional 144 shares during the quarter. Quarry LP’s holdings in Owens Corning were worth $40,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MV Capital Management Inc. increased its position in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning during the 1st quarter worth approximately $26,000. ST Germain D J Co. Inc. increased its position in Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Riverview Trust Co acquired a new stake in Owens Corning during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.3 %

Shares of OC opened at $172.01 on Friday. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The business’s fifty day moving average is $167.05 and its 200-day moving average is $170.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 3.47 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the business earned $4.22 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Analysts Set New Price Targets

Several brokerages have issued reports on OC. Loop Capital increased their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Evercore ISI lowered their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price objective for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $184.23.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the sale, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Company 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.