Owens Corning (NYSE:OC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Owens Corning (NYSE:OC) by 32.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,466 shares of the construction company’s stock after purchasing an additional 362 shares during the quarter. GAMMA Investing LLC’s holdings in Owens Corning were worth $255,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New Hampshire lifted its holdings in shares of Owens Corning by 15.9% during the 2nd quarter. Bank of New Hampshire now owns 11,232 shares of the construction company’s stock valued at $1,951,000 after acquiring an additional 1,539 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Owens Corning during the 1st quarter valued at $421,000. Cetera Investment Advisers lifted its holdings in Owens Corning by 196.2% in the 1st quarter. Cetera Investment Advisers now owns 12,765 shares of the construction company’s stock worth $2,129,000 after buying an additional 8,456 shares in the last quarter. Atria Investments Inc purchased a new position in Owens Corning in the 1st quarter valued at about $1,031,000. Finally, Swedbank AB acquired a new stake in shares of Owens Corning during the first quarter valued at about $60,424,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

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 completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were 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 disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock worth $3,437,315 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OC shares. StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Loop Capital lifted their price target on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Evercore ISI upped their price target on shares of Owens Corning from $172.00 to $188.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Barclays decreased their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Argus upped their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $183.92.

Owens Corning Price Performance

OC traded down $2.79 on Tuesday, reaching $161.56. The company had a trading volume of 708,460 shares, compared to its average volume of 663,638. The company has a fifty day moving average of $175.47 and a 200-day moving average of $166.35. The company has a market capitalization of $14.00 billion, a P/E ratio of 13.32, a PEG ratio of 1.62 and a beta of 1.42. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a one year low of $109.95 and a one year high of $191.13.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given 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 yield of 1.49%. Owens Corning’s dividend payout ratio is presently 19.43%.

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.