Owens Corning Inc (OC) Shares Bought by Flinton Capital Management LLC
Flinton Capital Management LLC boosted its position in Owens Corning Inc (NYSE:OC) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,184 shares of the construction company’s stock after buying an additional 8,224 shares during the quarter. Flinton Capital Management LLC owned approximately 0.06% of Owens Corning worth $4,496,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in OC. BlackRock Inc. increased its holdings in Owens Corning by 4,010.8% in the first quarter. BlackRock Inc. now owns 6,496,203 shares of the construction company’s stock valued at $398,669,000 after buying an additional 6,338,177 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Owens Corning by 71.7% in the first quarter. Renaissance Technologies LLC now owns 1,169,800 shares of the construction company’s stock valued at $71,791,000 after buying an additional 488,500 shares during the last quarter. PGGM Investments bought a new stake in Owens Corning in the second quarter valued at about $26,366,000. Boston Partners bought a new stake in Owens Corning in the second quarter valued at about $26,195,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Owens Corning by 36.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,383,533 shares of the construction company’s stock valued at $84,908,000 after buying an additional 366,192 shares during the last quarter. 96.84% of the stock is owned by hedge funds and other institutional investors.
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Owens Corning Inc (NYSE OC) traded down 0.272% during trading on Thursday, hitting $78.885. The stock had a trading volume of 64,937 shares. The stock has a 50-day moving average price of $73.65 and a 200-day moving average price of $66.22. The company has a market cap of $8.77 billion, a PE ratio of 22.662 and a beta of 1.05. Owens Corning Inc has a 52 week low of $46.45 and a 52 week high of $79.42.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Owens Corning Inc will post $4.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Investors of record on Monday, October 16th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.
In other news, Chairman Michael H. Thaman sold 130,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total transaction of $9,795,965.00. Following the completion of the sale, the chairman now owns 847,992 shares of the company’s stock, valued at $63,557,000.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian Chambers sold 16,600 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the sale, the insider now directly owns 39,957 shares of the company’s stock, valued at approximately $2,684,311.26. The disclosure for this sale can be found here. Insiders sold 212,866 shares of company stock valued at $15,644,970 in the last three months. Company insiders own 1.80% of the company’s stock.
Several analysts recently weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price objective on shares of Owens Corning in a report on Monday, June 19th. FBR & Co boosted their price objective on Owens Corning from $63.00 to $70.00 and gave the company a “mkt perform” rating in a report on Thursday, July 27th. BidaskClub lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Credit Suisse Group assumed coverage on Owens Corning in a report on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, Macquarie raised Owens Corning from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $54.00 to $68.00 in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. Owens Corning currently has an average rating of “Buy” and an average price target of $72.47.
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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