3,387 Shares in Owens Corning Inc $OC Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in Owens Corning Inc (NYSE:OC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,387 shares of the construction company’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings 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 valued at $69,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Owens Corning during the second quarter worth $277,000. EverSource Wealth Advisors LLC lifted its stake in Owens Corning by 1,433.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,190 shares during the last quarter. Cerity Partners LLC boosted its holdings in Owens Corning by 294.3% in the second quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock worth $2,389,000 after purchasing an additional 12,966 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in Owens Corning by 12.2% in the second quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock worth $421,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC stock opened at $151.51 on Thursday. 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 $11.98 billion, a price-to-earnings ratio of -18.80, a PEG ratio of 2.27 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The stock’s fifty day moving average is $142.22 and its two-hundred day moving average is $126.95.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $4.21 EPS. On average, research analysts predict that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s payout ratio is -39.21%.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of research reports. Barclays increased their target price on shares of Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Wall Street Zen raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Evercore restated an “outperform” rating and issued a $193.00 target price on shares of Owens Corning in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $163.25.

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

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.