Hall Laurie J Trustee Has $107,000 Stake in Owens Corning Inc (OC)
Hall Laurie J Trustee maintained its stake in shares of Owens Corning Inc (NYSE:OC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the construction company’s stock at the close of the 2nd quarter. Hall Laurie J Trustee’s holdings in Owens Corning were worth $107,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its holdings in Owens Corning by 97.6% during the second quarter. Public Employees Retirement System of Ohio now owns 101,402 shares of the construction company’s stock worth $6,786,000 after buying an additional 50,091 shares in the last quarter. Castleark Management LLC grew its holdings in Owens Corning by 27.5% during the second quarter. Castleark Management LLC now owns 71,235 shares of the construction company’s stock worth $4,767,000 after buying an additional 15,375 shares in the last quarter. Nomura Holdings Inc. grew its holdings in Owens Corning by 184.1% during the second quarter. Nomura Holdings Inc. now owns 11,226 shares of the construction company’s stock worth $751,000 after buying an additional 7,275 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Owens Corning by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 3,689 shares of the construction company’s stock worth $247,000 after buying an additional 304 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Owens Corning by 32.4% during the second quarter. Cubist Systematic Strategies LLC now owns 14,792 shares of the construction company’s stock worth $990,000 after buying an additional 3,622 shares in the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
Shares of Owens Corning Inc (NYSE OC) traded up 0.08% during mid-day trading on Monday, reaching $79.31. The company had a trading volume of 104,525 shares. The stock has a market capitalization of $8.82 billion, a P/E ratio of 22.78 and a beta of 1.05. The firm has a 50 day moving average of $76.15 and a 200-day moving average of $67.18. Owens Corning Inc has a one year low of $46.45 and a one year high of $80.12.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Owens Corning had a return on equity of 11.12% and a net margin of 6.61%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. Owens Corning’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that Owens Corning Inc will post $4.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Monday, October 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s dividend payout ratio is presently 23.05%.
A number of research analysts have issued reports on OC shares. Jefferies Group LLC restated a “buy” rating and issued a $77.00 price objective on shares of Owens Corning in a research note on Wednesday, July 19th. BidaskClub upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price objective on shares of Owens Corning in a research note on Monday, June 19th. Northcoast Research set a $76.00 price objective on Owens Corning and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.53.
In other Owens Corning news, insider Brian Chambers sold 16,600 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the completion of the sale, the insider now owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $74.95, for a total value of $9,795,965.00. Following the sale, the chairman now directly owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The disclosure for this sale can be found here. Insiders have sold 212,866 shares of company stock valued at $15,644,970 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
Owens Corning Profile
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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