Owens Corning (NYSE:OC) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in Owens Corning (NYSE:OC) by 90.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,457 shares of the construction company’s stock after buying an additional 690 shares during the period. First Horizon Advisors Inc.’s holdings in Owens Corning were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Williams Financial LLC acquired a new position in shares of Owens Corning in the 2nd quarter valued at about $285,000. Blue Trust Inc. lifted its position in Owens Corning by 46.2% during the 2nd quarter. Blue Trust Inc. now owns 367 shares of the construction company’s stock worth $61,000 after acquiring an additional 116 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Owens Corning by 59.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 72,426 shares of the construction company’s stock worth $12,582,000 after purchasing an additional 26,986 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Owens Corning by 133.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,327 shares of the construction company’s stock worth $1,620,000 after purchasing an additional 5,325 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in Owens Corning by 5.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,596 shares of the construction company’s stock worth $625,000 after purchasing an additional 172 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now directly owns 62,895 shares of the company’s stock, valued at $11,195,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the transaction, the chief financial officer now directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the transaction, the insider now directly owns 62,895 shares in the company, valued at $11,195,310. The disclosure for this sale can be found here. Insiders have sold 15,937 shares of company stock valued at $2,833,258 over the last three months. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of Owens Corning stock traded down $2.17 during trading on Tuesday, hitting $160.41. The stock had a trading volume of 67,725 shares, compared to its average volume of 671,968. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market cap of $13.95 billion, a P/E ratio of 13.16, a PEG ratio of 3.15 and a beta of 1.42. The business has a fifty day moving average of $171.57 and a two-hundred day moving average of $166.84. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13.

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. Owens Corning’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.22 earnings per share. On average, sell-side analysts expect that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OC shares. StockNews.com downgraded Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Jefferies Financial Group started coverage on Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. UBS Group boosted their price target on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Argus boosted their price target on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average price target of $184.23.

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.