3,829 Shares in Owens Corning Inc $OC Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new stake in Owens Corning Inc (NYSE:OC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,829 shares of the construction company’s stock, valued at approximately $609,000.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Owens Corning by 460.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after purchasing an additional 1,078,877 shares during the period. Norges Bank bought a new stake in Owens Corning in the 4th quarter valued at $119,748,000. Allspring Global Investments Holdings LLC grew its holdings in Owens Corning by 721.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after buying an additional 1,027,800 shares in the last quarter. Gendell Jeffrey L grew its holdings in Owens Corning by 349.3% in the 4th quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after buying an additional 716,839 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Owens Corning by 33.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after buying an additional 645,773 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OC. Bank of America reduced their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada raised their target price on shares of Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Stock Down 0.7%

Shares of NYSE OC opened at $153.66 on Tuesday. The stock has a market capitalization of $12.15 billion, a P/E ratio of -19.06, a PEG ratio of 2.33 and a beta of 1.32. The stock’s fifty day moving average is $140.94 and its 200 day moving average is $126.52. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company posted $4.21 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts forecast that Owens Corning Inc will post 9.9 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a dividend yield of 2.1%. Owens Corning’s dividend payout ratio (DPR) is currently -39.21%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.