Owens Corning (NYSE:OC) Stock Holdings Decreased by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC decreased its stake in shares of Owens Corning (NYSE:OC) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,838 shares of the construction company’s stock after selling 82 shares during the period. MainStreet Investment Advisors LLC’s holdings in Owens Corning were worth $667,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of OC. Los Angeles Capital Management LLC raised its stake in Owens Corning by 50.8% during the second quarter. Los Angeles Capital Management LLC now owns 10,957 shares of the construction company’s stock valued at $1,903,000 after buying an additional 3,692 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Owens Corning during the 2nd quarter valued at approximately $3,376,000. Lake Street Advisors Group LLC bought a new position in Owens Corning during the second quarter worth $225,000. Savant Capital LLC lifted its stake in Owens Corning by 3.9% during the second quarter. Savant Capital LLC now owns 10,200 shares of the construction company’s stock worth $1,772,000 after purchasing an additional 385 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in Owens Corning by 105.5% in the second quarter. Impact Partnership Wealth LLC now owns 1,950 shares of the construction company’s stock worth $339,000 after purchasing an additional 1,001 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the sale, the chief financial officer now owns 34,626 shares in the company, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Insiders have sold 6,240 shares of company stock valued at $1,107,192 in the last quarter. Insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $157.15 on Friday. The firm has a market capitalization of $13.62 billion, a PE ratio of 12.72, a P/E/G ratio of 3.35 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $168.14 and a 200 day moving average price of $168.27. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) 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 business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm posted $4.22 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Owens Corning will post 15.38 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were given a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.53%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OC shares. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada raised their target price on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price for the company. UBS Group raised their price target on Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays lowered their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $184.23.

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.