SG Americas Securities LLC purchased a new stake in Owens Corning Inc (NYSE:OC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,658 shares of the construction company’s stock, valued at approximately $2,372,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiera Capital Corp bought a new stake in shares of Owens Corning during the fourth quarter worth about $19,948,000. Cetera Advisors LLC acquired a new stake in Owens Corning during the third quarter valued at $209,000. Highbridge Capital Management LLC boosted its stake in Owens Corning by 26.3% in the third quarter. Highbridge Capital Management LLC now owns 292,220 shares of the construction company’s stock valued at $15,601,000 after buying an additional 60,842 shares during the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in Owens Corning during the fourth quarter valued at $4,976,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Owens Corning by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,229 shares of the construction company’s stock valued at $1,507,000 after buying an additional 427 shares during the last quarter.
Owens Corning Inc (NYSE:OC) traded down 0.87% during midday trading on Friday, hitting $64.17. The company had a trading volume of 1,005,134 shares. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $65.70. The company has a 50 day moving average price of $62.42 and a 200 day moving average price of $58.40. The firm has a market capitalization of $7.18 billion, a P/E ratio of 16.82 and a beta of 1.04.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 26th. The construction company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. Owens Corning had a net margin of 7.38% and a return on equity of 11.56%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts forecast that Owens Corning Inc will post $4.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.80 annualized dividend and a yield of 1.25%. Owens Corning’s dividend payout ratio is currently 21.00%.
A number of equities research analysts have recently weighed in on OC shares. Instinet reiterated a “buy” rating and issued a $74.00 price objective on shares of Owens Corning in a research report on Thursday, June 1st. Wedbush upgraded Owens Corning from a “neutral” rating to an “outperform” rating and raised their target price for the company from $58.00 to $72.00 in a research note on Friday, March 31st. Royal Bank Of Canada restated a “buy” rating and issued a $67.00 target price on shares of Owens Corning in a research note on Friday, April 21st. Jefferies Group LLC restated a “buy” rating and issued a $71.00 target price (up previously from $65.00) on shares of Owens Corning in a research note on Saturday, March 11th. Finally, FBR & Co lifted their price objective on Owens Corning from $61.00 to $63.00 and gave the company a “mkt perform” rating in a research note on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.16.
In related news, insider Brian Chambers sold 10,000 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $61.95, for a total transaction of $619,500.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $2,025,021.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arnaud Genis sold 21,544 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the transaction, the insider now directly owns 80,143 shares of the company’s stock, valued at $5,244,557.92. The disclosure for this sale can be found here. Corporate 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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