Owens Corning Inc $OC Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC cut its holdings in Owens Corning Inc (NYSE:OC) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 340,103 shares of the construction company’s stock after selling 18,305 shares during the period. River Road Asset Management LLC owned 0.42% of Owens Corning worth $54,063,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Pitcairn Co. boosted its stake in Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares during the period. First Pacific Financial boosted its position in shares of Owens Corning by 2.3% during the 1st quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock worth $406,000 after purchasing an additional 85 shares during the period. Viawealth LLC increased its holdings in Owens Corning by 3.6% in the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock valued at $287,000 after purchasing an additional 88 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Owens Corning by 2.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock valued at $343,000 after purchasing an additional 90 shares during the period. Finally, Basecamp Wealth Advisors LLC lifted its stake in Owens Corning by 3.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $155.44 on Thursday. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of -19.29, a PEG ratio of 2.76 and a beta of 1.32. The firm’s fifty day simple moving average is $138.83 and its 200-day simple moving average is $125.84. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $4.21 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Owens Corning Inc will post 9.65 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a $0.79 dividend. The ex-dividend date was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.0%. Owens Corning’s dividend payout ratio is presently -39.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OC shares. The Goldman Sachs Group lifted their price objective on Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Bank of America cut their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Evercore reissued an “outperform” rating and issued a $193.00 price objective on shares of Owens Corning in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.25.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.