Capstone Investment Advisors LLC Has $1.04 Million Position in Owens Corning (NYSE:OC)

Capstone Investment Advisors LLC boosted its stake in shares of Owens Corning (NYSE:OC) by 218.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,259 shares of the construction company’s stock after acquiring an additional 4,292 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Owens Corning were worth $1,044,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. MV Capital Management Inc. increased its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Owens Corning in the first quarter valued at $26,000. Riverview Trust Co acquired a new stake in Owens Corning in the first quarter worth about $28,000. Contravisory Investment Management Inc. acquired a new stake in Owens Corning in the fourth quarter worth about $27,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Owens Corning in the fourth quarter worth about $27,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.6 %

NYSE OC traded down $2.71 during trading on Friday, hitting $165.64. The stock had a trading volume of 763,684 shares, compared to its average volume of 596,216. The company has a market capitalization of $14.35 billion, a PE ratio of 13.41, a P/E/G ratio of 5.01 and a beta of 1.42. The company’s 50-day moving average price is $175.64 and its two-hundred day moving average price is $162.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a 12 month low of $109.95 and a 12 month high of $184.00.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 EPS. As a group, sell-side analysts forecast that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OC shares. Evercore ISI lifted their price objective on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Loop Capital lifted their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. UBS Group lifted their price objective on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada raised their target price on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Barclays raised their target price on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $179.00.

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 that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The disclosure for this sale can be found here. Insiders have sold 19,360 shares of company stock valued at $3,437,315 in the last 90 days. 0.90% of the stock is currently owned by insiders.

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.