Hodges Capital Management Inc. decreased its position in shares of Owens Corning Inc (NYSE:OC) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,756 shares of the construction company’s stock after selling 1,198 shares during the period. Hodges Capital Management Inc.’s holdings in Owens Corning were worth $1,255,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in OC. BlackRock Inc. raised its stake in shares of Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock worth $398,669,000 after buying an additional 6,338,177 shares during the last quarter. LSV Asset Management raised its stake in shares of Owens Corning by 59.4% in the first quarter. LSV Asset Management now owns 1,385,700 shares of the construction company’s stock worth $85,040,000 after buying an additional 516,500 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Owens Corning by 71.7% in the first quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company’s stock worth $71,791,000 after buying an additional 488,500 shares during the last quarter. PGGM Investments bought a new stake in shares of Owens Corning during the second quarter worth $26,366,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Owens Corning by 36.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,383,533 shares of the construction company’s stock worth $84,908,000 after buying an additional 366,192 shares during the last quarter.
Owens Corning Inc (NYSE:OC) traded up 0.40% on Friday, hitting $67.10. 855,127 shares of the stock traded hands. The firm has a 50-day moving average price of $66.65 and a 200-day moving average price of $62.53. The company has a market capitalization of $7.46 billion, a PE ratio of 19.28 and a beta of 1.11. Owens Corning Inc has a 12 month low of $46.45 and a 12 month high of $68.88.
Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. Owens Corning’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. Analysts forecast that Owens Corning Inc will post $4.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, July 13th. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.
OC has been the topic of a number of research reports. Stifel Nicolaus lifted their target price on shares of Owens Corning from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $71.00 price objective (up previously from $67.00) on shares of Owens Corning in a research note on Thursday, April 27th. FBR & Co boosted their price objective on shares of Owens Corning from $61.00 to $63.00 and gave the stock a “mkt perform” rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and set a $72.00 price objective on shares of Owens Corning in a research note on Sunday, July 9th. Finally, KeyCorp reissued an “overweight” rating and set a $75.00 price objective (up previously from $70.00) on shares of Owens Corning in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $70.53.
In other Owens Corning news, insider Arnaud Genis sold 21,544 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Chambers sold 16,600 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the transaction, the insider now directly owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The disclosure for this sale can be found here. Insiders sold a total of 40,144 shares of company stock valued at $2,654,227 over the last quarter. 1.80% of the stock is owned by company insiders.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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