GAMMA Investing LLC Increases Stock Holdings in Owens Corning (NYSE:OC)

GAMMA Investing LLC increased its holdings in shares of Owens Corning (NYSE:OC) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104 shares of the construction company’s stock after buying an additional 77 shares during the period. GAMMA Investing LLC’s holdings in Owens Corning were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Owens Corning during the 1st quarter valued at approximately $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning during the 4th quarter valued at approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning during the 4th quarter valued at approximately $27,000. VisionPoint Advisory Group LLC lifted its position in shares of Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after buying an additional 88 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after buying an additional 78 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 research analysts have recently issued reports on the company. StockNews.com lowered Owens Corning from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. UBS Group raised their price objective on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Evercore ISI raised their price objective on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Loop Capital raised their price objective on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Royal Bank of Canada raised their price objective on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.07.

Owens Corning Stock Down 2.1 %

Shares of OC opened at $175.63 on Friday. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a market capitalization of $15.22 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 5.34 and a beta of 1.46. The stock has a fifty day simple moving average of $174.04 and a two-hundred day simple moving average of $160.11. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $2.77 EPS. As a group, equities analysts forecast that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.37%. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling

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

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.