180 Wealth Advisors LLC Reduces Stock Position in Owens Corning Inc $OC

180 Wealth Advisors LLC lowered its position in shares of Owens Corning Inc (NYSE:OC) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,688 shares of the construction company’s stock after selling 1,233 shares during the period. 180 Wealth Advisors LLC’s holdings in Owens Corning were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. Bangor Savings Bank purchased a new stake in shares of Owens Corning in the 2nd quarter worth about $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of Owens Corning in the 2nd quarter worth about $42,000. Wayfinding Financial LLC purchased a new stake in shares of Owens Corning in the 1st quarter worth about $60,000. IFP Advisors Inc lifted its position in shares of Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock worth $63,000 after purchasing an additional 199 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after purchasing an additional 184 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Barclays increased their price target on shares of Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, UBS Group decreased their price target on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Owens Corning Stock Down 0.6%

NYSE:OC opened at $127.87 on Friday. The firm has a market cap of $10.69 billion, a P/E ratio of 33.21, a P/E/G ratio of 9.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. Owens Corning Inc has a fifty-two week low of $123.23 and a fifty-two week high of $214.53. The firm has a 50-day simple moving average of $142.69 and a two-hundred day simple moving average of $141.09.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $4.64 EPS. Analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is currently 71.69%.

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.