Sebold Capital Management Inc. Buys 437 Shares of Owens Corning Inc (NYSE:OC)

Sebold Capital Management Inc. lifted its stake in shares of Owens Corning Inc (NYSE:OC) by 37.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,616 shares of the construction company’s stock after buying an additional 437 shares during the period. Sebold Capital Management Inc.’s holdings in Owens Corning were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allstate Corp bought a new stake in shares of Owens Corning during the 4th quarter worth $425,000. Integrated Quantitative Investments LLC purchased a new position in shares of Owens Corning during the 4th quarter valued at $349,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Owens Corning by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock worth $109,091,000 after acquiring an additional 16,958 shares during the period. Raymond James Financial Inc. purchased a new stake in Owens Corning in the 4th quarter worth about $51,220,000. Finally, Twinbeech Capital LP bought a new stake in Owens Corning in the 4th quarter valued at about $22,699,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

OC opened at $145.70 on Thursday. The stock has a market capitalization of $12.39 billion, a P/E ratio of 51.30, a PEG ratio of 3.79 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.02. Owens Corning Inc has a 12-month low of $123.41 and a 12-month high of $214.53. The stock has a 50-day moving average price of $138.40 and a 200-day moving average price of $153.24.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm earned $3.40 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a yield of 1.89%. Owens Corning’s dividend payout ratio is currently 97.18%.

Owens Corning declared that its board has approved a share repurchase plan on Wednesday, May 14th that allows the company to buyback 12,000,000 shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OC. UBS Group reduced their target price on shares of Owens Corning from $235.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Wolfe Research raised Owens Corning from a “peer perform” rating to an “outperform” rating in a report on Friday, May 9th. Barclays decreased their price objective on Owens Corning from $179.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research report on Tuesday, April 1st. They set a “buy” rating and a $183.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.80.

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.