3,829 Shares in Owens Corning Inc $OC Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in Owens Corning Inc (NYSE:OC) during the 2nd quarter, Holdings Channel reports. The fund acquired 3,829 shares of the construction company’s stock, valued at approximately $609,000.

Several other institutional investors have also recently bought and sold shares of OC. Pitcairn Co. lifted its holdings in shares of Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after acquiring an additional 80 shares during the last quarter. First Pacific Financial grew its holdings in shares of Owens Corning by 2.3% during the 1st quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after purchasing an additional 85 shares during the last quarter. Viawealth LLC grew its holdings in shares of Owens Corning by 3.6% during the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock valued at $287,000 after purchasing an additional 88 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Owens Corning by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after purchasing an additional 90 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC increased its position in Owens Corning by 3.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OC. Royal Bank Of Canada raised their target price on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Evercore reissued an “outperform” rating and set a $193.00 price target on shares of Owens Corning in a research note on Thursday, July 23rd. Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Insider Buying and Selling

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Owens Corning Stock Performance

NYSE OC opened at $153.66 on Tuesday. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of -19.06, a PEG ratio of 2.33 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The stock has a fifty day simple moving average of $140.94 and a 200 day simple moving average of $126.52.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.21 EPS. Sell-side analysts expect that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s payout ratio is currently -39.21%.

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.