Owens Corning (NYSE:OC) Shares Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC boosted its holdings in Owens Corning (NYSE:OC) by 105.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,950 shares of the construction company’s stock after purchasing an additional 1,001 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Owens Corning were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in OC. Natixis Advisors L.P. increased its stake in Owens Corning by 2.1% during the fourth quarter. Natixis Advisors L.P. now owns 16,291 shares of the construction company’s stock worth $2,414,000 after acquiring an additional 342 shares during the last quarter. M&T Bank Corp increased its stake in Owens Corning by 16.3% during the fourth quarter. M&T Bank Corp now owns 4,481 shares of the construction company’s stock worth $664,000 after acquiring an additional 627 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Owens Corning during the fourth quarter worth about $296,000. Charles Schwab Investment Management Inc. increased its stake in Owens Corning by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 594,132 shares of the construction company’s stock worth $88,068,000 after acquiring an additional 3,111 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $211,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on OC. Royal Bank of Canada upped their price target on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their target price for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Loop Capital increased their target price on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Evercore ISI lowered their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.23.

Insiders Place Their Bets

In other Owens Corning news, VP Mari Doerfler sold 240 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s 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 owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 directly owns 4,954 shares in the company, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 6,240 shares of company stock valued at $1,107,192 in the last quarter. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 0.7 %

Shares of OC opened at $158.94 on Friday. The company has a market capitalization of $13.77 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.35 and a beta of 1.42. Owens Corning has a one year low of $109.95 and a one year high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a 50-day moving average price of $168.47 and a 200 day moving average price of $167.97.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business posted $4.22 earnings per share. Owens Corning’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio 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.