HighPoint Advisor Group LLC Purchases Shares of 3,860 Owens Corning (NYSE:OC)

HighPoint Advisor Group LLC purchased a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,860 shares of the construction company’s stock, valued at approximately $572,000.

Other large investors have also recently bought and sold shares of the company. Paralel Advisors LLC grew its holdings in shares of Owens Corning by 1.1% during the third quarter. Paralel Advisors LLC now owns 19,963 shares of the construction company’s stock worth $2,723,000 after purchasing an additional 224 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Owens Corning by 23.1% during the third quarter. Kestra Advisory Services LLC now owns 2,165 shares of the construction company’s stock worth $295,000 after purchasing an additional 406 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Owens Corning by 9.3% during the third quarter. Rafferty Asset Management LLC now owns 21,644 shares of the construction company’s stock worth $2,952,000 after purchasing an additional 1,841 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Owens Corning during the third quarter worth $1,747,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Owens Corning during the third quarter worth $1,186,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Up 1.2 %

NYSE:OC opened at $179.31 on Thursday. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 5.34 and a beta of 1.46. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $173.86 and its two-hundred day moving average price is $160.00. Owens Corning has a 1-year low of $109.95 and a 1-year high of $184.00.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. Owens Corning’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.77 earnings per share. On average, equities analysts expect that Owens Corning will post 15.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OC. StockNews.com cut Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target on the stock. Barclays upped their price target on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, June 3rd. Loop Capital upped their price target on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Citigroup upped their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $177.07.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the sale, the chief financial officer now owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mari Doerfler sold 240 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at $901,875.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,360 shares of company stock valued at $2,916,365 over the last 90 days. 0.89% of the stock is owned by company insiders.

Owens Corning 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.