Owens Corning (NYSE:OC) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC raised its position in Owens Corning (NYSE:OC) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,568 shares of the construction company’s stock after acquiring an additional 137 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Owens Corning were worth $272,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares during the period. Bessemer Group Inc. lifted its holdings in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after buying an additional 78 shares in the last quarter. MV Capital Management Inc. boosted its position in Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Tobam grew its stake in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after acquiring an additional 103 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its position in shares of Owens Corning by 2.5% during the second quarter. Atlas Capital Advisors LLC now owns 4,508 shares of the construction company’s stock worth $783,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

OC opened at $174.27 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average price is $167.63 and its 200 day moving average price is $169.79. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for 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 business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.22 EPS. As a group, sell-side analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, October 18th. Owens Corning’s payout ratio is 19.43%.

Insider Activity

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were 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 of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares in the company, valued at $10,074,443.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Todd W. Fister sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,101 shares of company stock valued at $1,577,952. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OC. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada increased their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Finally, UBS Group raised their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.