Choreo LLC Buys Shares of 2,269 Owens Corning (NYSE:OC)

Choreo LLC purchased a new stake in Owens Corning (NYSE:OC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,269 shares of the construction company’s stock, valued at approximately $384,000.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in Owens Corning by 102.0% during the second 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 grew its position in shares of Owens Corning by 66.0% in the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after buying an additional 84,958 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Owens Corning by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after acquiring an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Owens Corning by 11.0% during the fourth 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 during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Owens Corning by 452.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after acquiring an additional 15,667 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

NYSE:OC opened at $167.77 on Tuesday. The firm’s fifty day moving average is $167.42 and its two-hundred day moving average is $169.02. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 3.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. Owens Corning has a one year low of $109.95 and a one year high of $191.13.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 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 company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.22 EPS. Research analysts expect that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Insider Activity at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on OC shares. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. UBS Group raised their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Evercore ISI cut their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their target price on shares of 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, Jefferies Financial Group initiated coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

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.