Lee Danner & Bass Inc. Grows Position in Owens Corning Inc $OC

Lee Danner & Bass Inc. boosted its position in shares of Owens Corning Inc (NYSE:OC) by 117.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,625 shares of the construction company’s stock after purchasing an additional 13,277 shares during the period. Lee Danner & Bass Inc.’s holdings in Owens Corning were worth $2,665,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Owens Corning by 19.0% in the first quarter. QRG Capital Management Inc. now owns 13,426 shares of the construction company’s stock worth $1,453,000 after buying an additional 2,145 shares during the period. HB Wealth Management LLC boosted its holdings in Owens Corning by 12.2% during the 1st quarter. HB Wealth Management LLC now owns 5,075 shares of the construction company’s stock valued at $549,000 after acquiring an additional 551 shares during the period. Moran Wealth Management LLC grew its position in Owens Corning by 6.0% in the 1st quarter. Moran Wealth Management LLC now owns 63,525 shares of the construction company’s stock valued at $6,875,000 after acquiring an additional 3,597 shares during the last quarter. Altus Wealth Group LLC grew its position in Owens Corning by 11.1% in the 1st quarter. Altus Wealth Group LLC now owns 2,806 shares of the construction company’s stock valued at $304,000 after acquiring an additional 281 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in Owens Corning by 212.7% in the first quarter. Root Financial Partners LLC now owns 419 shares of the construction company’s stock worth $45,000 after purchasing an additional 285 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $151.01 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a 50 day moving average price of $125.26 and a 200-day moving average price of $120.43. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The stock has a market capitalization of $12.16 billion, a PE ratio of -22.85, a PEG ratio of 2.74 and a beta of 1.30.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.21. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. Equities analysts predict that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be issued a $0.79 dividend. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president owned 3,093 shares in the company, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OC. Evercore raised shares of Owens Corning from an “in-line” rating to an “outperform” rating and set a $188.00 target price for the company in a research note on Tuesday. Bank of America reduced their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price objective on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.58.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.