Owens Corning Inc $OC Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in shares of Owens Corning Inc (NYSE:OC) by 61.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,971 shares of the construction company’s stock after buying an additional 24,326 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of Owens Corning worth $10,169,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Owens Corning by 460.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after acquiring an additional 1,078,877 shares during the last quarter. Norges Bank acquired a new position in shares of Owens Corning in the 4th quarter valued at about $119,748,000. Allspring Global Investments Holdings LLC increased its stake in Owens Corning by 721.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after buying an additional 1,027,800 shares during the period. Gendell Jeffrey L increased its stake in shares of Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock worth $103,188,000 after acquiring an additional 716,839 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Owens Corning by 33.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after purchasing an additional 645,773 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Down 2.2%

OC opened at $155.44 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $138.83 and a two-hundred day moving average price of $125.84. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91. The stock has a market capitalization of $12.29 billion, a PE ratio of -19.29, a PEG ratio of 2.76 and a beta of 1.32.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $4.21 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning Inc will post 9.65 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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

Insider Buying and Selling at Owens Corning

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays upped their price objective on Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.25.

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.