Owens Corning Inc $OC Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC boosted its holdings in shares of Owens Corning Inc (NYSE:OC) by 120.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,087 shares of the construction company’s stock after acquiring an additional 1,687 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Owens Corning were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. Sequoia Financial Advisors LLC increased its stake in Owens Corning by 7.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock worth $260,000 after acquiring an additional 127 shares during the last quarter. Sebold Capital Management Inc. increased its stake in Owens Corning by 37.1% during the first quarter. Sebold Capital Management Inc. now owns 1,616 shares of the construction company’s stock worth $231,000 after acquiring an additional 437 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Owens Corning by 6.3% in the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock valued at $250,000 after purchasing an additional 103 shares during the period. Principal Financial Group Inc. raised its position in Owens Corning by 0.4% in the first quarter. Principal Financial Group Inc. now owns 393,768 shares of the construction company’s stock valued at $56,238,000 after purchasing an additional 1,737 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in Owens Corning in the first quarter valued at approximately $462,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OC. Jefferies Financial Group dropped their price objective on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Zacks Research cut Owens Corning from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Vertical Research began coverage on Owens Corning in a research note on Monday, October 20th. They issued a “hold” rating for the company. Barclays lifted their price objective on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $178.31.

Owens Corning Trading Up 0.0%

OC opened at $124.72 on Friday. Owens Corning Inc has a 12 month low of $123.02 and a 12 month high of $214.53. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 9.10 and a beta of 1.32. 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 business has a fifty day moving average price of $140.78 and a 200 day moving average price of $140.82.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is currently 71.69%.

Owens Corning Company Profile

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.