3,737 Shares in Owens Corning Inc $OC Acquired by West Family Investments Inc.

West Family Investments Inc. purchased a new position in Owens Corning Inc (NYSE:OC) during the second quarter, Holdings Channel reports. The fund purchased 3,737 shares of the construction company’s stock, valued at approximately $594,000.

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

Analysts Set New Price Targets

OC has been the topic of a number of recent analyst reports. Truist Financial set a $198.00 price target on shares of Owens Corning in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. 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 report on Tuesday, July 14th. Barclays raised their target price on Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Citigroup boosted their price target on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Owens Corning Stock Performance

NYSE:OC opened at $151.51 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The firm’s fifty day simple moving average is $142.22 and its 200 day simple moving average is $126.95. The stock has a market cap of $11.98 billion, a P/E ratio of -18.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91.

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

Owens Corning Dividend Announcement

The business also recently declared 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 yield of 2.1%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is presently -39.21%.

Insider Transactions at Owens Corning

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

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.