38,170 Shares in Owens Corning Inc (OC) Acquired by Sage Capital Advisors llc
Sage Capital Advisors llc bought a new stake in Owens Corning Inc (NYSE:OC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,170 shares of the construction company’s stock, valued at approximately $2,554,000. Owens Corning accounts for about 1.9% of Sage Capital Advisors llc’s holdings, making the stock its 18th largest position.
Other large investors have also recently modified their holdings of the company. World Asset Management Inc boosted its stake in shares of Owens Corning by 1.1% in the first quarter. World Asset Management Inc now owns 4,941 shares of the construction company’s stock valued at $303,000 after buying an additional 52 shares in the last quarter. Opus Capital Group LLC boosted its stake in shares of Owens Corning by 1.5% in the first quarter. Opus Capital Group LLC now owns 5,126 shares of the construction company’s stock valued at $314,000 after buying an additional 76 shares in the last quarter. Laurion Capital Management LP boosted its stake in shares of Owens Corning by 1.8% in the first quarter. Laurion Capital Management LP now owns 5,700 shares of the construction company’s stock valued at $350,000 after buying an additional 103 shares in the last quarter. First Bank & Trust boosted its stake in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after buying an additional 104 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares in the last quarter.
Shares of Owens Corning Inc (NYSE:OC) traded up 1.36% on Friday, hitting $70.09. The stock had a trading volume of 1,291,334 shares. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 20.14 and a beta of 1.11. Owens Corning Inc has a 12-month low of $46.45 and a 12-month high of $70.45. The stock has a 50 day moving average price of $66.95 and a 200-day moving average price of $63.01.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $1.29 earnings per share. Owens Corning’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Owens Corning Inc will post $4.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. Owens Corning’s dividend payout ratio is currently 23.05%.
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Several research firms have recently commented on OC. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a research report on Monday, June 19th. FBR & Co boosted their price target on Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research report on Thursday, July 27th. BidaskClub lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. KeyCorp reissued an “overweight” rating and issued a $75.00 price target (up from $70.00) on shares of Owens Corning in a research report on Monday, June 26th. Finally, Credit Suisse Group began coverage on Owens Corning in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.53.
In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the transaction, the insider now owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James J. Mcmonagle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the transaction, the director now directly owns 50,906 shares in the company, valued at approximately $3,288,527.60. The disclosure for this sale can be found here. Insiders sold 40,144 shares of company stock worth $2,654,227 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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