Williams Financial LLC Takes $285,000 Position in Owens Corning (NYSE:OC)

Williams Financial LLC acquired a new stake in shares of Owens Corning (NYSE:OC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,704 shares of the construction company’s stock, valued at approximately $285,000.

A number of other institutional investors have also recently made changes to their positions in OC. MV Capital Management Inc. grew its position in shares of Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. NBC Securities Inc. purchased a new position in Owens Corning in the first quarter worth about $26,000. ST Germain D J Co. Inc. grew 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. Riverview Trust Co purchased a new position in Owens Corning in the first quarter worth about $28,000. Finally, ORG Partners LLC purchased a new position in Owens Corning in the first quarter worth about $31,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on OC. Barclays dropped their price target on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. 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 report on Friday, June 21st. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Stock Down 1.4 %

OC stock traded down $2.25 during trading on Friday, hitting $159.58. 551,186 shares of the company’s stock traded hands, compared to its average volume of 676,568. The firm has a market capitalization of $13.83 billion, a P/E ratio of 12.92, a PEG ratio of 1.62 and a beta of 1.42. The business has a fifty day simple moving average of $171.84 and a two-hundred day simple moving average of $166.79. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.27. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $4.22 earnings per share. Sell-side analysts anticipate that Owens Corning will post 15.63 EPS for the current year.

Owens Corning Announces Dividend

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

Insider Activity at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on 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 directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on 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 directly owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now directly owns 11,381 shares in the company, valued at $2,008,405.07. 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 ninety days. 0.89% of the stock is owned by company 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.