Wedbush Securities Inc. Has $375,000 Stake in Owens Corning (NYSE:OC)

Wedbush Securities Inc. grew its holdings in Owens Corning (NYSE:OC) by 6.8% in the 2nd quarter, Holdings Channel reports. The fund owned 2,160 shares of the construction company’s stock after purchasing an additional 137 shares during the quarter. Wedbush Securities Inc.’s holdings in Owens Corning were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after purchasing an additional 20,971 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after purchasing an additional 84,958 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Owens Corning by 14.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after buying an additional 14,011 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after acquiring an additional 4,259 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of Owens Corning by 452.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after acquiring an additional 15,667 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Up 2.4 %

NYSE OC opened at $165.58 on Friday. The stock has a market cap of $14.40 billion, a PE ratio of 13.41, a P/E/G ratio of 3.18 and a beta of 1.41. The stock’s 50 day moving average is $167.41 and its 200 day moving average is $168.62. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. Owens Corning’s payout ratio is 19.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OC shares. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Evercore ISI dropped their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Barclays cut their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, Loop Capital upped their target price on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Transactions at Owens Corning

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

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.