Oak Family Advisors LLC Has $1.12 Million Holdings in Owens Corning (NYSE:OC)

Oak Family Advisors LLC decreased its position in shares of Owens Corning (NYSE:OC) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,423 shares of the construction company’s stock after selling 1,612 shares during the quarter. Oak Family Advisors LLC’s holdings in Owens Corning were worth $1,116,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OC. MV Capital Management Inc. boosted its stake in 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 purchasing an additional 79 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of Owens Corning by 794.1% during the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning during the 1st quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of Owens Corning during the 1st quarter worth about $28,000. Finally, ORG Partners LLC acquired a new stake in Owens Corning in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of several research analyst reports. StockNews.com cut shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target on the stock. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Price Performance

NYSE:OC traded up $0.19 during trading hours on Thursday, hitting $163.55. The stock had a trading volume of 597,039 shares, compared to its average volume of 672,806. The company has a 50 day simple moving average of $170.91 and a two-hundred day simple moving average of $166.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. Owens Corning has a one year low of $109.95 and a one year high of $191.13. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 3.15 and a beta of 1.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings data 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 net margin of 10.66% and a return on equity of 26.33%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.22 EPS. Research 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, July 15th. 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 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the transaction, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the transaction, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares in the company, valued at approximately $11,195,310. The disclosure for this sale can be found here. Insiders sold 15,937 shares of company stock valued at $2,833,258 over the last three months. Insiders own 0.89% of the company’s stock.

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.