Sii Investments Inc. WI increased its stake in Owens Corning Inc (NYSE:OC) by 11.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,602 shares of the construction company’s stock after buying an additional 665 shares during the period. Sii Investments Inc. WI’s holdings in Owens Corning were worth $402,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of OC. IFP Advisors Inc boosted its stake in Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock valued at $157,000 after buying an additional 798 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Owens Corning during the first quarter valued at approximately $203,000. Courier Capital LLC bought a new stake in Owens Corning during the first quarter valued at approximately $209,000. Finally, American Trust Investment Advisors LLC bought a new stake in Owens Corning during the first quarter valued at approximately $212,000.
Shares of Owens Corning Inc (NYSE OC) traded down 0.87% during mid-day trading on Friday, hitting $64.17. 1,005,134 shares of the stock were exchanged. The stock has a 50-day moving average price of $62.33 and a 200 day moving average price of $58.32. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 16.82 and a beta of 1.04. Owens Corning Inc has a 52-week low of $46.45 and a 52-week high of $65.70.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.24. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.31 billion. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. Owens Corning’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, equities research analysts expect that Owens Corning Inc will post $4.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s dividend payout ratio (DPR) is 21.00%.
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A number of brokerages recently issued reports on OC. Instinet reissued a “buy” rating and set a $74.00 price target on shares of Owens Corning in a research report on Thursday, June 1st. Wedbush raised shares of Owens Corning from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $58.00 to $72.00 in a research report on Friday, March 31st. Royal Bank of Canada reissued a “buy” rating and set a $67.00 price target on shares of Owens Corning in a research report on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and set a $71.00 price target (up from $65.00) on shares of Owens Corning in a research report on Saturday, March 11th. Finally, FBR & Co lifted their price target on shares of Owens Corning from $61.00 to $63.00 and gave the company a “mkt perform” rating in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Owens Corning currently has an average rating of “Hold” and an average target price of $62.16.
In other Owens Corning news, insider Brian Chambers sold 10,000 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $61.95, for a total value of $619,500.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at $2,025,021.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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