Inspire Investing LLC Invests $775,000 in Owens Corning (NYSE:OC)

Inspire Investing LLC purchased a new position in Owens Corning (NYSE:OC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,459 shares of the construction company’s stock, valued at approximately $775,000.

A number of other large investors also recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Owens Corning in the 2nd quarter valued at about $1,062,000. Foresight Group Ltd Liability Partnership lifted its position in Owens Corning by 70.5% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 6,010 shares of the construction company’s stock valued at $1,044,000 after purchasing an additional 2,485 shares during the last quarter. Seven Eight Capital LP lifted its position in Owens Corning by 43.4% in the 2nd quarter. Seven Eight Capital LP now owns 18,461 shares of the construction company’s stock valued at $3,207,000 after purchasing an additional 5,583 shares during the last quarter. Hsbc Holdings PLC lifted its position in Owens Corning by 9.7% in the 2nd quarter. Hsbc Holdings PLC now owns 364,473 shares of the construction company’s stock valued at $63,285,000 after purchasing an additional 32,157 shares during the last quarter. Finally, Blair William & Co. IL bought a new stake in Owens Corning in the 2nd quarter valued at about $239,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $174.28 on Friday. The firm’s 50 day simple moving average is $167.69 and its 200-day simple moving average is $169.24. The company has a market cap of $15.10 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. 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 fifty-two week low of $109.95 and a fifty-two week high of $191.13.

Owens Corning (NYSE:OC) last released its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.22 earnings per share. As a group, equities research analysts predict 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 will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Wall Street Analyst Weigh In

OC has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note 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 on the stock in a research note on Friday, July 12th. Loop Capital raised their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

About Owens Corning

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.