Owens Corning (NYSE:OC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in Owens Corning (NYSE:OC) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,754 shares of the construction company’s stock after purchasing an additional 15,006 shares during the period. Rhumbline Advisers’ holdings in Owens Corning were worth $48,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MV Capital Management Inc. raised 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 purchasing an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Owens Corning during the 1st quarter worth about $26,000. ST Germain D J Co. Inc. raised its position in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Owens Corning during the 1st quarter worth about $28,000. Finally, ORG Partners LLC acquired a new stake in shares of Owens Corning during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and raised their target price for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a research report on Monday, June 17th. Evercore ISI cut their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. Finally, Loop Capital lifted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Hold” and an average price target of $184.23.

Insider Activity at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the sale, the vice president now owns 4,954 shares in the company, valued at $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 6,240 shares of company stock worth $1,107,192 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Trading Down 0.7 %

Shares of OC stock opened at $158.94 on Friday. The business’s 50 day moving average is $168.47 and its two-hundred day moving average is $167.97. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company has a market capitalization of $13.77 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 3.35 and a beta of 1.42. 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 for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the business posted $4.22 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.51%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.