Denali Advisors LLC Acquires New Position in Owens Corning (NYSE:OC)

Denali Advisors LLC bought a new position in Owens Corning (NYSE:OC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 300 shares of the construction company’s stock, valued at approximately $50,000.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Owens Corning by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after purchasing an additional 67 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after acquiring an additional 69 shares during the last quarter. GAMMA Investing LLC lifted its stake in Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after acquiring an additional 77 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after buying an additional 78 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in shares of Owens Corning by 3.7% during the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after buying an additional 79 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock worth $3,437,315 over the last quarter. 0.90% of the stock is currently owned by company insiders.

Owens Corning Stock Down 0.0 %

Shares of Owens Corning stock traded down $0.02 during trading on Wednesday, reaching $168.35. 299,341 shares of the company traded hands, compared to its average volume of 657,720. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. Owens Corning has a 1-year low of $109.95 and a 1-year high of $184.00. The company has a 50 day moving average price of $175.56 and a 200-day moving average price of $162.00. The firm has a market capitalization of $14.59 billion, a PE ratio of 13.63, a P/E/G ratio of 5.17 and a beta of 1.42.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.77 EPS. As a group, equities research analysts expect that Owens Corning will post 15.48 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 Friday, August 2nd. Investors of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s payout ratio is currently 19.43%.

Analysts Set New Price Targets

OC has been the subject of a number of research reports. Evercore ISI raised their target price on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research note on Thursday, April 25th. Loop Capital raised their target price on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Barclays raised their target price on shares of Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, June 3rd. Argus lifted their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group started coverage on shares of Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $179.00.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.