NorthRock Partners LLC Purchases 1,056 Shares of Owens Corning Inc $OC

NorthRock Partners LLC grew its position in shares of Owens Corning Inc (NYSE:OC) by 34.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,134 shares of the construction company’s stock after buying an additional 1,056 shares during the period. NorthRock Partners LLC’s holdings in Owens Corning were worth $569,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bangor Savings Bank purchased a new stake in Owens Corning during the second quarter valued at about $28,000. Ameritas Advisory Services LLC bought a new stake in shares of Owens Corning in the second quarter valued at approximately $42,000. Wayfinding Financial LLC purchased a new stake in shares of Owens Corning during the 1st quarter valued at approximately $60,000. IFP Advisors Inc boosted its holdings in Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock worth $63,000 after buying an additional 199 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.7%

Shares of OC opened at $127.42 on Thursday. The firm has a market cap of $10.66 billion, a P/E ratio of 33.10, a P/E/G ratio of 9.32 and a beta of 1.32. Owens Corning Inc has a 1 year low of $123.23 and a 1 year high of $214.53. The stock has a 50 day simple moving average of $145.59 and a two-hundred day simple moving average of $141.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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 net margin of 2.98% and a return on equity of 24.49%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the business posted $4.64 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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 issued a $0.69 dividend. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a dividend yield of 2.2%. Owens Corning’s payout ratio is currently 71.69%.

Analyst Ratings Changes

OC has been the topic of several recent research reports. UBS Group dropped their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Barclays raised their target price on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Evercore ISI decreased their price target on Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Jefferies Financial Group cut their price objective on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

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.