KRS Capital Management LLC Purchases Shares of 1,200 Owens Corning (NYSE:OC)

KRS Capital Management LLC purchased a new stake in shares of Owens Corning (NYSE:OC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,200 shares of the construction company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Owens Corning during the first quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of Owens Corning during the first quarter valued at about $28,000. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning during the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning during the fourth quarter valued at about $27,000. Finally, Rise Advisors LLC purchased a new position in Owens Corning in the first quarter worth about $38,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $173.72 on Friday. The company has a 50 day moving average price of $175.48 and a 200-day moving average price of $161.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00. The company has a market capitalization of $15.05 billion, a PE ratio of 14.07, a P/E/G ratio of 5.17 and a beta of 1.46.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders 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 dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The disclosure for this sale can be found here. Insiders sold 16,360 shares of company stock valued at $2,916,365 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on OC shares. Argus lifted their price target on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Loop Capital lifted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Jefferies Financial Group started coverage on Owens Corning in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target for the company. UBS Group lifted their price target on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI lifted their price target on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Owens Corning Company 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.