Merit Financial Group LLC Grows Stock Holdings in Owens Corning Inc $OC

Merit Financial Group LLC grew its position in Owens Corning Inc (NYSE:OC) by 145.7% during the second quarter, Holdings Channel reports. The institutional investor owned 11,958 shares of the construction company’s stock after acquiring an additional 7,091 shares during the quarter. Merit Financial Group LLC’s holdings in Owens Corning were worth $1,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after purchasing an additional 119,566 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Owens Corning during the 1st quarter worth about $2,576,000. Raiffeisen Bank International AG lifted its position in Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after buying an additional 38,885 shares in the last quarter. Systematic Financial Management LP grew its holdings in Owens Corning by 10.8% during the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after acquiring an additional 23,873 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Owens Corning by 1,243.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock worth $4,379,000 after acquiring an additional 36,222 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $155.44 on Thursday. The stock has a market cap of $12.29 billion, a P/E ratio of -19.29, a price-to-earnings-growth ratio of 2.76 and a beta of 1.32. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91. The stock’s 50-day moving average price is $138.83 and its two-hundred day moving average price is $125.84. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.Owens Corning’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $4.21 EPS. On average, equities analysts predict that Owens Corning Inc will post 9.65 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a $0.79 dividend. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.0%. Owens Corning’s dividend payout ratio (DPR) is -39.21%.

Analyst Ratings Changes

A number of brokerages have weighed in on OC. The Goldman Sachs Group boosted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Citigroup increased their price target on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada raised their price target on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Barclays boosted their price objective on shares of Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Bank of America decreased their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.