Diversify Advisory Services LLC Takes Position in Owens Corning (NYSE:OC)

Diversify Advisory Services LLC purchased a new stake in shares of Owens Corning (NYSE:OCFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,190 shares of the construction company’s stock, valued at approximately $707,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Owens Corning by 6,116.6% in the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after acquiring an additional 819,201 shares during the period. Norges Bank purchased a new position in shares of Owens Corning in the 4th quarter worth about $118,251,000. Bank of Nova Scotia raised its position in Owens Corning by 9,571.1% in the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock worth $21,287,000 after buying an additional 142,131 shares during the last quarter. Nordea Investment Management AB raised its position in Owens Corning by 15.1% in the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after buying an additional 94,185 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Owens Corning by 66.0% in the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after buying an additional 84,958 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the sale, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Marcio A. Sandri sold 9,697 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the transaction, the insider now owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,360 shares of company stock worth $3,437,315. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of a number of recent analyst reports. Barclays boosted their target price on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd. Evercore ISI boosted their target price on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Loop Capital boosted their target price on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Argus upped their price target on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group began coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

View Our Latest Report on Owens Corning

Owens Corning Price Performance

NYSE:OC opened at $165.64 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.35 billion, a P/E ratio of 13.41, a P/E/G ratio of 4.93 and a beta of 1.42. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00. The stock’s fifty day moving average is $175.64 and its two-hundred day moving average is $162.29.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business posted $2.77 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts expect that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.45%. Owens Corning’s dividend payout ratio is currently 19.43%.

About Owens Corning

(Free Report)

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.

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

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