Diversify Advisory Services LLC Purchases Shares of 3,476 Owens Corning Inc $OC

Diversify Advisory Services LLC purchased a new stake in shares of Owens Corning Inc (NYSE:OC) in the 2nd quarter, Holdings Channel reports. The fund purchased 3,476 shares of the construction company’s stock, valued at approximately $499,000.

Several other institutional investors have also recently made changes to their positions in OC. Vanguard Group Inc. boosted its holdings in shares of Owens Corning by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock worth $1,092,883,000 after buying an additional 84,096 shares during the last quarter. BlackRock Inc. bought a new position in Owens Corning in the second quarter worth approximately $1,401,161,000. State Street Corp raised its position in Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock worth $514,205,000 after acquiring an additional 81,133 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Owens Corning by 7.3% during the 1st 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. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Owens Corning by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after acquiring an additional 231,871 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OC shares. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $193.00 target price on shares of Owens Corning in a research report on Thursday, July 23rd. Citigroup boosted their price target on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. Barclays raised their price objective on Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

Shares of NYSE OC opened at $147.19 on Friday. The stock has a market cap of $11.64 billion, a PE ratio of -18.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.32. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91. The firm has a fifty day moving average price of $142.73 and a 200-day moving average price of $127.15. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. Owens Corning’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.21 EPS. Equities analysts anticipate that Owens Corning Inc will post 9.9 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s dividend payout ratio (DPR) is currently -39.21%.

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.