Stephens Inc. AR Purchases 2,148 Shares of Owens Corning (NYSE:OC)

Stephens Inc. AR lifted its stake in Owens Corning (NYSE:OCGet Rating) by 90.5% in the first quarter, Holdings Channel.com reports. The fund owned 4,522 shares of the construction company’s stock after purchasing an additional 2,148 shares during the period. Stephens Inc. AR’s holdings in Owens Corning were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Bank & Trust boosted its stake in Owens Corning by 3.6% during the first quarter. First Bank & Trust now owns 3,461 shares of the construction company’s stock valued at $316,000 after buying an additional 121 shares during the period. Convergence Investment Partners LLC raised its position in Owens Corning by 7.6% during the first quarter. Convergence Investment Partners LLC now owns 1,860 shares of the construction company’s stock valued at $170,000 after purchasing an additional 132 shares in the last quarter. CIBC World Markets Inc. raised its position in Owens Corning by 1.0% during the fourth quarter. CIBC World Markets Inc. now owns 15,140 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 146 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Owens Corning by 33.7% in the first quarter. Fifth Third Bancorp now owns 663 shares of the construction company’s stock worth $61,000 after buying an additional 167 shares during the period. Finally, Roosevelt Investment Group LLC increased its holdings in shares of Owens Corning by 3.8% in the fourth quarter. Roosevelt Investment Group LLC now owns 5,742 shares of the construction company’s stock worth $520,000 after buying an additional 210 shares during the period. 92.55% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $88.39 on Thursday. The stock’s 50 day simple moving average is $84.29 and its two-hundred day simple moving average is $88.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.23 and a current ratio of 1.87. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.80 and a beta of 1.51. Owens Corning has a fifty-two week low of $72.97 and a fifty-two week high of $101.12.

Owens Corning (NYSE:OCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The construction company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.52. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.58 billion. Owens Corning had a net margin of 12.20% and a return on equity of 26.22%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. As a group, analysts expect that Owens Corning will post 12.3 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 4th. Stockholders of record on Monday, July 18th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, July 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.58%. Owens Corning’s dividend payout ratio (DPR) is 12.44%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America downgraded Owens Corning from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $119.00 to $80.00 in a report on Friday, June 17th. Royal Bank of Canada reiterated a “maintains” rating on shares of Owens Corning in a report on Thursday, July 28th. Wells Fargo & Company lifted their price objective on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. cut their target price on Owens Corning from $102.00 to $86.00 in a research note on Friday, July 15th. Finally, UBS Group cut their target price on Owens Corning from $137.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.92.

Insider Buying and Selling

In other Owens Corning news, VP Kelly Schmidt sold 1,940 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the transaction, the vice president now owns 15,083 shares of the company’s stock, valued at approximately $1,386,580.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.44% of the stock is currently owned by insiders.

About Owens Corning

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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