CANADA LIFE ASSURANCE Co Grows Position in Owens Corning (NYSE:OC)

CANADA LIFE ASSURANCE Co boosted its stake in shares of Owens Corning (NYSE:OC) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,161 shares of the construction company’s stock after purchasing an additional 23,593 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.15% of Owens Corning worth $21,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OC. MV Capital Management Inc. raised its holdings in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. NBC Securities Inc. bought a new stake in shares of Owens Corning in the first quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of Owens Corning in the first quarter worth about $28,000. ORG Partners LLC bought a new stake in shares of Owens Corning in the first quarter worth about $31,000. Finally, Blue Trust Inc. increased its holdings in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OC has been the topic of several research reports. Loop Capital lifted their target price on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. UBS Group lifted their target price on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Finally, Argus lifted their price target on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.92.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the sale, the insider now owns 62,895 shares in the company, valued at $11,195,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.6 %

Shares of NYSE:OC opened at $175.73 on Friday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $184.00. The business has a 50 day simple moving average of $175.49 and a two-hundred day simple moving average of $164.73. The firm has a market capitalization of $15.23 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 5.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.44 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.37%. Owens Corning’s dividend payout ratio (DPR) 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.