Dalton Greiner Hartman Maher & Co. lowered its position in Owens Corning Inc (NYSE:OC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,591 shares of the construction company’s stock after selling 3,446 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.17% of Owens Corning worth $12,888,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in OC. Creative Planning boosted its position in Owens Corning by 104.3% in the second quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after buying an additional 1,043 shares during the period. Point72 Asia Hong Kong Ltd boosted its position in Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock worth $141,000 after buying an additional 1,888 shares during the period. IFP Advisors Inc boosted its position in Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock worth $157,000 after buying an additional 798 shares during the period. Penserra Capital Management LLC boosted its position in Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after buying an additional 232 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Owens Corning during the first quarter worth approximately $203,000.
Shares of Owens Corning Inc (OC) traded up 0.26% on Friday, reaching $65.02. The company’s stock had a trading volume of 133,660 shares. The stock has a market cap of $7.28 billion, a P/E ratio of 17.04 and a beta of 1.11. Owens Corning Inc has a 12 month low of $46.45 and a 12 month high of $67.74. The firm’s 50-day moving average price is $65.55 and its 200-day moving average price is $60.59.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm posted $0.53 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that Owens Corning Inc will post $4.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. Owens Corning’s payout ratio is currently 21.00%.
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A number of equities analysts have commented on OC shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $71.00 price objective on shares of Owens Corning in a research report on Thursday, March 23rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 price objective on shares of Owens Corning in a research report on Monday, June 19th. Instinet reaffirmed a “buy” rating and set a $74.00 price objective on shares of Owens Corning in a research report on Thursday, June 1st. Stifel Nicolaus lifted their price objective on shares of Owens Corning from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, Nomura started coverage on shares of Owens Corning in a research report on Wednesday, April 12th. They set a “buy” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Owens Corning presently has a consensus rating of “Buy” and a consensus price target of $66.80.
In other Owens Corning news, Director James J. Mcmonagle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the sale, the director now owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arnaud Genis sold 21,544 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the sale, the insider now directly owns 80,143 shares in the company, valued at approximately $5,244,557.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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