West Family Investments Inc. Purchases New Holdings in Owens Corning Inc $OC

West Family Investments Inc. purchased a new stake in shares of Owens Corning Inc (NYSE:OC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,737 shares of the construction company’s stock, valued at approximately $594,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pitcairn Co. lifted its holdings in Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after purchasing an additional 80 shares during the last quarter. First Pacific Financial increased its stake in shares of Owens Corning by 2.3% in the first quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock worth $406,000 after purchasing an additional 85 shares in the last quarter. Viawealth LLC boosted its holdings in Owens Corning by 3.6% in the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after buying an additional 88 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Owens Corning by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after buying an additional 90 shares during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in Owens Corning by 3.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock valued at $359,000 after buying an additional 97 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $151.51 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $11.98 billion, a PE ratio of -18.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. The business’s 50-day moving average price is $142.22 and its 200-day moving average price is $126.95. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91.

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

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, July 20th. Owens Corning’s payout ratio is presently -39.21%.

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OC. Citigroup boosted their price objective on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price target on shares of Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

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.