Menard Financial Group LLC Boosts Holdings in Owens Corning (NYSE:OC)

Menard Financial Group LLC grew its position in Owens Corning (NYSE:OC) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,723 shares of the construction company’s stock after buying an additional 325 shares during the period. Menard Financial Group LLC’s holdings in Owens Corning were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OC. Private Advisor Group LLC purchased a new stake in shares of Owens Corning in the 4th quarter valued at approximately $296,000. Principal Securities Inc. acquired a new stake in shares of Owens Corning in the fourth quarter valued at $211,000. Avantax Advisory Services Inc. grew its stake in shares of Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after buying an additional 69 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Owens Corning in the fourth quarter valued at $490,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Owens Corning by 14.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,046 shares of the construction company’s stock valued at $6,128,000 after buying an additional 5,361 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was 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 directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Up 2.4 %

Shares of NYSE OC opened at $165.60 on Monday. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. 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 business has a 50-day moving average of $167.41 and a two-hundred day moving average of $168.89. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13.

Owens Corning (NYSE:OC) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.22 EPS. On average, analysts forecast that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OC shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Royal Bank of Canada lifted their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Barclays dropped their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.23.

About Owens Corning

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.