Mather Group LLC. Increases Position in Owens Corning (NYSE:OC)

Mather Group LLC. lifted its stake in Owens Corning (NYSE:OC) by 86.6% in the 2nd quarter, Holdings Channel reports. The firm owned 3,725 shares of the construction company’s stock after purchasing an additional 1,729 shares during the quarter. Mather Group LLC.’s holdings in Owens Corning were worth $621,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Owens Corning in the fourth quarter valued at about $118,251,000. Nordea Investment Management AB grew its holdings in shares of Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after acquiring an additional 533,910 shares during the period. Swedbank AB purchased a new position in Owens Corning in the 1st quarter valued at approximately $60,424,000. Bank of Nova Scotia raised its holdings in Owens Corning by 9,571.1% during the fourth quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock worth $21,287,000 after purchasing an additional 142,131 shares during the last quarter. Finally, Cincinnati Insurance Co. purchased a new stake in Owens Corning during the first quarter worth $21,684,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 4.1 %

NYSE OC traded down $6.82 during trading hours on Tuesday, hitting $157.53. 1,595,509 shares of the company’s stock were exchanged, compared to its average volume of 669,552. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The firm has a market capitalization of $13.65 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The business’s 50 day moving average is $175.06 and its 200-day moving average is $166.40. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a $0.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.52%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insiders Place Their Bets

In other Owens Corning 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 transaction 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 $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction 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 $5,491,854.90. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock valued at $3,437,315 over the last quarter. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $187.00 price target on shares of Owens Corning in a research report on Monday, June 17th. Argus lifted their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target on the stock. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a research report on Thursday, July 11th. Finally, Barclays reduced their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.92.

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.