Williams Financial LLC Takes Position in Owens Corning (NYSE:OC)

Williams Financial LLC acquired a new position in shares of Owens Corning (NYSE:OC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,704 shares of the construction company’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC bought a new stake in shares of Owens Corning in the fourth quarter valued at about $296,000. Principal Securities Inc. acquired a new position in Owens Corning during the 4th quarter worth approximately $211,000. Avantax Advisory Services Inc. grew its stake in shares of Owens Corning by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after acquiring an additional 69 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $490,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Owens Corning by 14.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,046 shares of the construction company’s stock worth $6,128,000 after purchasing an additional 5,361 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now 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 can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Price Performance

Shares of OC opened at $165.60 on Friday. The company’s 50-day moving average is $167.41 and its 200-day moving average is $168.76. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The firm has a market capitalization of $14.40 billion, a PE ratio of 13.41, a PEG ratio of 3.18 and a beta of 1.41. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm earned $4.22 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 annualized dividend and a yield of 1.45%. Owens Corning’s payout ratio is currently 19.43%.

Analysts Set New Price Targets

OC has been the topic of several recent research reports. UBS Group lifted their price target on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays lowered their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Citigroup raised Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Jefferies Financial Group initiated coverage on Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.23.

Owens Corning Company Profile

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.