Caprock Group LLC Buys 2,630 Shares of Owens Corning (NYSE:OC)

Caprock Group LLC boosted its holdings in Owens Corning (NYSE:OC) by 119.0% during the second quarter, Holdings Channel reports. The fund owned 4,840 shares of the construction company’s stock after purchasing an additional 2,630 shares during the period. Caprock Group LLC’s holdings in Owens Corning were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OC. Norges Bank bought a new stake in Owens Corning in the 4th quarter valued at $118,251,000. Nordea Investment Management AB grew its holdings in Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Owens Corning by 2,813.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after buying an additional 365,853 shares in the last quarter. Swedbank AB acquired a new position in Owens Corning in the 1st quarter valued at $60,424,000. Finally, Guinness Asset Management LTD acquired a new position in Owens Corning in the 2nd quarter valued at $30,708,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $157.76 on Wednesday. The firm has a market cap of $13.67 billion, a PE ratio of 12.77, a PEG ratio of 3.12 and a beta of 1.41. The stock’s fifty day moving average price is $167.72 and its two-hundred day moving average price is $168.61. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13.

Owens Corning (NYSE:OC) last posted its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.22 earnings per share. On average, equities research analysts forecast that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Transactions at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OC shares. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. UBS Group increased their target price on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays reduced their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Evercore ISI reduced their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

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.