Blue Trust Inc. Has $128,000 Stock Position in Owens Corning Inc $OC

Blue Trust Inc. boosted its stake in Owens Corning Inc (NYSE:OC) by 21.6% during the second quarter, Holdings Channel reports. The institutional investor owned 928 shares of the construction company’s stock after buying an additional 165 shares during the period. Blue Trust Inc.’s holdings in Owens Corning were worth $128,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank bought a new stake in shares of Owens Corning during the 2nd quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new position in Owens Corning in the 2nd quarter valued at approximately $42,000. Wayfinding Financial LLC acquired a new stake in shares of Owens Corning during the first quarter worth $60,000. IFP Advisors Inc increased its position in shares of Owens Corning by 76.0% during the second 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. increased its position in shares of Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after buying an additional 184 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.8%

Owens Corning stock opened at $126.29 on Friday. Owens Corning Inc has a 1-year low of $123.23 and a 1-year high of $214.53. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 9.25 and a beta of 1.32. The firm’s fifty day moving average price is $145.18 and its two-hundred day moving average price is $141.43. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the firm earned $4.64 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal 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 dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OC shares. Bank of America decreased their price objective on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Evercore ISI decreased their price objective on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. UBS Group decreased their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Barclays increased their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada cut their target price on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

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.