Radnor Capital Management LLC Lowers Position in Owens Corning (NYSE:OC)

Radnor Capital Management LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the construction company’s stock after selling 200 shares during the quarter. Radnor Capital Management LLC’s holdings in Owens Corning were worth $334,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OC. KMG Fiduciary Partners LLC raised its position in Owens Corning by 3.5% during the first quarter. KMG Fiduciary Partners LLC now owns 5,425 shares of the construction company’s stock valued at $905,000 after purchasing an additional 181 shares in the last quarter. Bank of New Hampshire bought a new stake in Owens Corning in the 1st quarter worth approximately $1,617,000. Banque Cantonale Vaudoise boosted its stake in Owens Corning by 18.7% in the first quarter. Banque Cantonale Vaudoise now owns 32,680 shares of the construction company’s stock worth $5,451,000 after buying an additional 5,156 shares in the last quarter. Alaska Permanent Fund Corp grew its position in Owens Corning by 310.6% during the first quarter. Alaska Permanent Fund Corp now owns 11,743 shares of the construction company’s stock valued at $1,959,000 after acquiring an additional 8,883 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in shares of Owens Corning during the first quarter worth approximately $38,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 1.2 %

Shares of Owens Corning stock opened at $177.70 on Monday. The company’s fifty day simple moving average is $174.28 and its two-hundred day simple moving average is $160.70. Owens Corning has a 12-month low of $109.95 and a 12-month high of $184.00. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.40 billion, a P/E ratio of 14.39, a PEG ratio of 5.23 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.77 earnings per share. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s payout ratio is presently 19.43%.

Analyst Upgrades and Downgrades

OC has been the topic of several recent research reports. StockNews.com lowered shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group started coverage on Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. Barclays boosted their target price on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, June 3rd. Loop Capital raised their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Hold” and an average price target of $179.00.

Insider Activity at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the sale, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders have sold 16,360 shares of company stock worth $2,916,365 over the last ninety days. 0.89% of the stock is owned by corporate insiders.

Owens Corning 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.