Focus Partners Advisor Solutions LLC Acquires New Shares in Owens Corning Inc $OC

Focus Partners Advisor Solutions LLC bought a new position in shares of Owens Corning Inc (NYSE:OC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,599 shares of the construction company’s stock, valued at approximately $1,208,000.

Other hedge funds also recently made changes to their positions in the company. HM Payson & Co. lifted its holdings in Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after purchasing an additional 112 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Owens Corning during the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Owens Corning during the first quarter valued at about $30,000. Harbour Investments Inc. increased its position in shares of Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after buying an additional 129 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning in the fourth quarter worth about $37,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OC has been the subject of a number of analyst reports. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wells Fargo & Company increased their target price on shares of Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $193.00 price target on shares of Owens Corning in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.25.

Owens Corning Stock Performance

NYSE OC opened at $154.95 on Monday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The company has a market capitalization of $12.25 billion, a P/E ratio of -19.23, a P/E/G ratio of 2.33 and a beta of 1.32. The company has a fifty day moving average of $140.25 and a 200-day moving average of $126.29.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm earned $4.21 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Owens Corning Inc will post 9.9 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.0%. Owens Corning’s dividend payout ratio is -39.21%.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Profile

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.