HB Wealth Management LLC Sells 194 Shares of Owens Corning Inc $OC

HB Wealth Management LLC cut its position in Owens Corning Inc (NYSE:OC) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,035 shares of the construction company’s stock after selling 194 shares during the quarter. HB Wealth Management LLC’s holdings in Owens Corning were worth $280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NorthCrest Asset Manangement LLC boosted its position in Owens Corning by 0.6% during the first 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 period. UMB Bank n.a. boosted its position in 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 purchasing an additional 89 shares during the period. Archer Investment Corp boosted its position in Owens Corning by 17.9% during the first quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after purchasing an additional 100 shares during the period. Resonant Capital Advisors LLC boosted its position in Owens Corning by 6.3% during the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock worth $250,000 after purchasing an additional 103 shares during the period. Finally, CreativeOne Wealth LLC boosted 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 purchasing an additional 103 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Owens Corning stock opened at $137.01 on Tuesday. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 9.97 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 stock’s 50 day moving average price is $147.26 and its two-hundred day moving average price is $142.37. 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 earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the firm earned $4.64 earnings per share. Owens Corning’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OC. Evercore ISI lifted 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. Barclays lifted their target price on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their target price on Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. UBS Group dropped their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their target price on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Owens Corning Company Profile

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.