NBC Securities Inc. Invests $26,000 in Owens Corning (NYSE:OC)

NBC Securities Inc. purchased a new position in Owens Corning (NYSE:OC) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 160 shares of the construction company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Owens Corning in the 4th quarter worth $27,000. Bruce G. Allen Investments LLC bought a new position in Owens Corning during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC lifted its holdings in Owens Corning by 53.0% during the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. lifted its holdings in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Owens Corning by 26,700.0% during the fourth quarter. Assetmark Inc. now owns 268 shares of the construction company’s stock worth $40,000 after acquiring an additional 267 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OC shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Barclays boosted their price target on Owens Corning from $160.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, June 3rd. Royal Bank of Canada boosted their price target on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Evercore ISI boosted their price target on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Finally, Citigroup boosted their price target on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $179.00.

Insiders Place Their Bets

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the transaction, the insider now owns 62,895 shares of the company’s stock, valued at $11,195,310. The disclosure for this sale can be found here. Insiders sold 16,360 shares of company stock worth $2,916,365 over the last three months. Insiders own 0.90% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $173.86 on Wednesday. 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 company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 5.29 and a beta of 1.46. The stock’s 50 day moving average is $174.77 and its 200-day moving average is $161.18. Owens Corning has a 12 month low of $109.95 and a 12 month high of $184.00.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.77 earnings per share. Equities research analysts expect that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s payout ratio is presently 19.43%.

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.