Forward Management LLC boosted its stake in Owens Corning Inc (NYSE:OC) by 5.6% during the second quarter, Holdings Channel reports. The fund owned 6,705 shares of the construction company’s stock after buying an additional 358 shares during the period. Forward Management LLC’s holdings in Owens Corning were worth $449,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. World Asset Management Inc increased its stake in shares of Owens Corning by 1.1% in the first quarter. World Asset Management Inc now owns 4,941 shares of the construction company’s stock valued at $303,000 after buying an additional 52 shares during the last quarter. Opus Capital Group LLC increased its stake in shares of Owens Corning by 1.5% in the first quarter. Opus Capital Group LLC now owns 5,126 shares of the construction company’s stock valued at $314,000 after buying an additional 76 shares during the last quarter. Laurion Capital Management LP increased its stake in shares of Owens Corning by 1.8% in the first quarter. Laurion Capital Management LP now owns 5,700 shares of the construction company’s stock valued at $350,000 after buying an additional 103 shares during the last quarter. First Bank & Trust increased its stake in shares of Owens Corning by 3.6% in the second quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after buying an additional 104 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares during the last quarter.

Owens Corning Inc (NYSE:OC) opened at 67.74 on Friday. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 19.46 and a beta of 1.11. Owens Corning Inc has a one year low of $46.45 and a one year high of $68.88. The company’s 50-day moving average is $66.56 and its 200 day moving average is $62.12.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. Equities analysts expect that Owens Corning Inc will post $4.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, July 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. Owens Corning’s dividend payout ratio (DPR) is presently 23.05%.

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Several brokerages have issued reports on OC. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price objective on shares of Owens Corning in a research note on Monday, June 19th. Jefferies Group LLC raised their target price on shares of Owens Corning from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. FBR & Co raised their target price on shares of Owens Corning from $63.00 to $70.00 and gave the stock a “mkt perform” rating in a research report on Thursday, July 27th. KeyCorp reaffirmed an “overweight” rating and set a $75.00 target price (up from $70.00) on shares of Owens Corning in a research report on Monday, June 26th. Finally, Credit Suisse Group began coverage on shares of Owens Corning in a research report on Thursday, June 22nd. They set an “outperform” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $70.53.

In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $67.18, for a total value of $1,115,188.00. Following the sale, the insider now directly owns 39,957 shares of the company’s stock, valued at approximately $2,684,311.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James J. Mcmonagle sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the sale, the director now directly owns 50,906 shares in the company, valued at $3,288,527.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,144 shares of company stock worth $2,654,227. 1.80% of the stock is owned by company insiders.

About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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