Retirement Guys Formula LLC Makes New $325,000 Investment in Owens Corning (NYSE:OC)

Retirement Guys Formula LLC bought a new position in Owens Corning (NYSE:OC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,946 shares of the construction company’s stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OC. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Owens Corning by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after acquiring an additional 67 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Owens Corning by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after acquiring an additional 77 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after acquiring an additional 78 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in shares of Owens Corning by 3.7% in the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock valued at $328,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Loop Capital increased their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Evercore ISI upped their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. Citigroup upped their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Argus upped their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. 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’s stock. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the sale, the insider now directly owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the sale, the insider now directly owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the vice president now directly owns 4,954 shares of the company’s stock, valued at $901,875.70. The disclosure for this sale can be found here. Insiders sold a total of 19,360 shares of company stock valued at $3,437,315 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $168.35 on Friday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $184.00. The firm’s fifty day simple moving average is $175.69 and its 200 day simple moving average is $162.09. 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 firm has a market capitalization of $14.59 billion, a PE ratio of 13.63, a PEG ratio of 5.01 and a beta of 1.42.

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

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. Owens Corning’s payout ratio is presently 19.43%.

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.