Owens Corning (NYSE:OC) Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC lowered its stake in Owens Corning (NYSE:OC) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,832 shares of the construction company’s stock after selling 68 shares during the quarter. AdvisorShares Investments LLC’s holdings in Owens Corning were worth $475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OC. MV Capital Management Inc. raised its stake in shares of Owens Corning by 112.9% in the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. ST Germain D J Co. Inc. raised its position in Owens Corning by 794.1% in the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. NBC Securities Inc. acquired a new stake in Owens Corning in the 1st quarter valued at about $26,000. Riverview Trust Co bought a new position in shares of Owens Corning during the 1st quarter valued at about $28,000. Finally, ORG Partners LLC acquired a new position in shares of Owens Corning in the 1st quarter worth approximately $31,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 1.4 %

Shares of NYSE OC opened at $159.90 on Thursday. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.12 and a beta of 1.41. The business has a 50 day simple moving average of $167.54 and a 200 day simple moving average of $168.54. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

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

Owens Corning Announces Dividend

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

Analysts Set New Price Targets

OC has been the subject of several recent research reports. Royal Bank of Canada increased their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Barclays decreased their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. UBS Group upped their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Loop Capital lifted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Company 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.