Park Avenue Securities LLC Sells 71 Shares of Owens Corning Inc $OC

Park Avenue Securities LLC decreased its stake in shares of Owens Corning Inc (NYSE:OC) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,541 shares of the construction company’s stock after selling 71 shares during the period. Park Avenue Securities LLC’s holdings in Owens Corning were worth $212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC lifted its holdings in Owens Corning by 0.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company’s stock worth $1,863,000 after purchasing an additional 74 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Owens Corning by 9.8% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the construction company’s stock worth $143,000 after buying an additional 89 shares in the last quarter. Archer Investment Corp boosted its position in shares of Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after acquiring an additional 100 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of Owens Corning by 6.3% in the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock valued at $250,000 after acquiring an additional 103 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in Owens Corning by 6.7% during the first quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company’s stock worth $236,000 after acquiring an additional 103 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OC has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Royal Bank Of Canada reduced their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Bank of America dropped their price objective on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday. Evercore ISI increased their target price on Owens Corning from $165.00 to $169.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Finally, Barclays boosted their price target on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Owens Corning Trading Down 0.1%

Shares of NYSE OC opened at $141.30 on Thursday. The firm has a 50 day moving average price of $147.61 and a two-hundred day moving average price of $142.56. The stock has a market cap of $11.82 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 10.02 and a beta of 1.32. Owens Corning Inc has a 52-week low of $123.40 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.41. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.64 earnings per share. As a group, equities analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

About Owens Corning

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.