5,900 Shares in Owens Corning Inc (OC) Acquired by Zweig DiMenna Associates LLC
Zweig DiMenna Associates LLC bought a new stake in Owens Corning Inc (NYSE:OC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,900 shares of the construction company’s stock, valued at approximately $456,000.
Other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Owens Corning during the second quarter worth about $228,000. Creative Planning raised its position in shares of Owens Corning by 104.3% during the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after acquiring an additional 1,043 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Owens Corning during the third quarter worth about $202,000. Penserra Capital Management LLC raised its position in shares of Owens Corning by 11.1% during the second quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after acquiring an additional 296 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Owens Corning by 3.6% during the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.
In related news, CFO Michael C. Mcmurray sold 14,000 shares of Owens Corning stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at $3,129,897.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kelly Schmidt sold 1,462 shares of Owens Corning stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $70.35, for a total value of $102,851.70. The disclosure for this sale can be found here. Insiders sold 196,266 shares of company stock valued at $14,529,782 in the last three months. Insiders own 1.80% of the company’s stock.
OC has been the subject of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and set a $77.00 price objective on shares of Owens Corning in a research report on Wednesday, July 19th. MKM Partners upgraded Owens Corning from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $62.00 in a research report on Thursday, July 27th. BidaskClub downgraded Owens Corning from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. FBR & Co raised their price objective 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $83.00 price objective on shares of Owens Corning in a research report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.95.
Shares of Owens Corning Inc (NYSE:OC) traded down $0.57 during trading on Monday, reaching $81.89. The company’s stock had a trading volume of 663,400 shares, compared to its average volume of 1,006,326. The company has a quick ratio of 0.99, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Owens Corning Inc has a 12-month low of $49.80 and a 12-month high of $83.31. The firm has a market capitalization of $9,109.53, a PE ratio of 20.37, a PEG ratio of 1.43 and a beta of 1.08.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $1.09 EPS. The company’s revenue was up 12.2% on a year-over-year basis. analysts expect that Owens Corning Inc will post 4.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. Owens Corning’s dividend payout ratio (DPR) is presently 23.88%.
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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