Owens Corning Inc $OC Stock: Brighton Jones LLC Grows Stake

Brighton Jones LLC increased its holdings in Owens Corning Inc (NYSE:OC) by 37.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,653 shares of the construction company’s stock after acquiring an additional 4,254 shares during the quarter. Brighton Jones LLC’s holdings in Owens Corning were worth $1,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HM Payson & Co. increased its position in Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after purchasing an additional 112 shares during the period. Fiduciary Financial Advisors bought a new stake in shares of Owens Corning in the 2nd quarter valued at about $35,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at about $30,000. NBH Bank purchased a new stake in shares of Owens Corning in the 2nd quarter worth approximately $47,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Owens Corning in the 3rd quarter worth approximately $37,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

Shares of NYSE OC opened at $126.78 on Tuesday. The firm has a 50-day simple moving average of $121.63 and a 200-day simple moving average of $126.14. The company has a quick ratio of 0.67, a current ratio of 1.13 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -23.83, a price-to-earnings-growth ratio of 3.77 and a beta of 1.31. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.63). The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Owens Corning had a negative net margin of 4.42% and a positive return on equity of 19.14%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 EPS. On average, equities analysts predict that Owens Corning Inc will post 8.47 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Monday, October 19th were given a $0.79 dividend. The ex-dividend date was Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. Owens Corning’s dividend payout ratio is -59.40%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Melius Research initiated coverage on shares of Owens Corning in a report on Tuesday, October 6th. They set a “sell” rating and a $118.00 target price for the company. Wells Fargo & Company upped their price objective on Owens Corning from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a report on Monday, September 21st. Finally, DA Davidson set a $143.00 price target on shares of Owens Corning in a research report on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.93.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the completion of the sale, the insider owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

Owens Corning Profile