Seven Eight Capital LP Has $3.21 Million Stock Holdings in Owens Corning (NYSE:OC)

Seven Eight Capital LP boosted its stake in Owens Corning (NYSE:OC) by 43.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,461 shares of the construction company’s stock after purchasing an additional 5,583 shares during the period. Seven Eight Capital LP’s holdings in Owens Corning were worth $3,207,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Hsbc Holdings PLC boosted its holdings in shares of Owens Corning by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 364,473 shares of the construction company’s stock worth $63,285,000 after buying an additional 32,157 shares in the last quarter. Blair William & Co. IL bought a new position in Owens Corning in the second quarter worth approximately $239,000. Vanguard Personalized Indexing Management LLC grew its stake in Owens Corning by 4.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,431 shares of the construction company’s stock valued at $3,693,000 after acquiring an additional 978 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Owens Corning by 23.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,098 shares of the construction company’s stock valued at $2,796,000 after acquiring an additional 3,110 shares in the last quarter. Finally, Menard Financial Group LLC increased its stake in Owens Corning by 23.2% during the 2nd quarter. Menard Financial Group LLC now owns 1,723 shares of the construction company’s stock valued at $299,000 after purchasing an additional 325 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

NYSE:OC opened at $170.79 on Wednesday. The company has a market capitalization of $14.80 billion, a P/E ratio of 13.83, a P/E/G ratio of 3.18 and a beta of 1.41. The business has a fifty day simple moving average of $167.42 and a two-hundred day simple moving average of $169.02. 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 1 year low of $109.95 and a 1 year high of $191.13.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.27. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.22 EPS. On average, analysts expect that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Monday, July 15th. Owens Corning’s payout ratio is currently 19.43%.

Insider Activity at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and upped their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. UBS Group raised their price objective on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada boosted their price target 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.23.

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.