Ballentine Partners LLC Raises Stock Position in Owens Corning Inc $OC

Ballentine Partners LLC raised its holdings in shares of Owens Corning Inc (NYSE:OC) by 54.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,959 shares of the construction company’s stock after buying an additional 1,038 shares during the quarter. Ballentine Partners LLC’s holdings in Owens Corning were worth $407,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. NorthCrest Asset Manangement LLC grew its holdings in shares of Owens Corning by 0.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company’s stock worth $1,863,000 after buying an additional 74 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Owens Corning by 13.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company’s stock worth $125,000 after buying an additional 85 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Owens Corning by 9.8% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the construction company’s stock worth $143,000 after buying an additional 89 shares in the last quarter. Archer Investment Corp grew its holdings in shares of Owens Corning by 17.9% during the first quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after buying an additional 100 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Owens Corning by 6.3% during the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock worth $250,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OC shares. Evercore ISI upped their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Royal Bank Of Canada dropped their price objective on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. UBS Group dropped their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Barclays upped their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company upped their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.10.

Owens Corning Trading Up 2.0%

Shares of OC stock opened at $142.83 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm has a market cap of $11.94 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 10.14 and a beta of 1.32. The company has a 50-day moving average of $147.69 and a two-hundred day moving average of $142.56. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.41. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.64 earnings per share. On average, analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio is currently 71.69%.

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.