Owens Corning Inc $OC Stock Holdings Boosted by Lido Advisors LLC

Lido Advisors LLC boosted its stake in Owens Corning Inc (NYSE:OC) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,380 shares of the construction company’s stock after purchasing an additional 4,495 shares during the period. Lido Advisors LLC’s holdings in Owens Corning were worth $2,613,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Owens Corning during the 2nd quarter worth $1,401,161,000. Dimensional Fund Advisors LP raised its position in shares of Owens Corning by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after acquiring an additional 188,211 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Owens Corning by 22.7% in the first quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock worth $235,835,000 after acquiring an additional 403,803 shares during the period. Nykredit A S acquired a new position in shares of Owens Corning in the second quarter worth approximately $166,083,000. Finally, Bank of America Corp DE acquired a new position in shares of Owens Corning in the second quarter worth approximately $133,685,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the transaction, the insider directly owned 21,449 shares of the company’s stock, valued at $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Owens Corning Trading Down 1.6%

OC stock traded down $1.85 during mid-day trading on Friday, reaching $115.68. The company’s stock had a trading volume of 955,248 shares, compared to its average volume of 1,231,648. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The company has a current ratio of 1.13, a quick ratio of 0.58 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average price is $120.38 and its 200 day moving average price is $126.06. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -21.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.31.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 4th. The construction company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.63). The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.62 billion. Owens Corning had a positive return on equity of 19.14% and a negative net margin of 4.42%. Owens Corning’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.67 earnings per share. On average, equities research analysts predict that Owens Corning Inc will post 8.47 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Monday, October 19th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, October 19th. Owens Corning’s payout ratio is presently -59.40%.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Owens Corning from $177.00 to $156.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. The Goldman Sachs Group lowered their target price on shares of Owens Corning from $169.00 to $128.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Zacks Research lowered shares of Owens Corning from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 12th. Evercore set a $185.00 price target on shares of Owens Corning in a research report on Thursday, October 1st. Finally, Melius Research assumed coverage on Owens Corning in a report on Tuesday, October 6th. They set a “sell” rating and a $118.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $140.93.

Owens Corning Company Profile

Owens Corning is a building-products company that develops and manufactures materials for residential and commercial construction. Its products include roofing shingles and components, insulation for buildings and industrial applications, and interior and exterior doors. Founded in 1938 through the combination of Owens-Illinois Glass Company and Corning Glass Works’ fiberglass operations, the company has a long history of developing glass-fiber-based materials. It is headquartered in Toledo, Ohio, and serves customers in North America and international markets.