Owens Corning (NYSE:OC) Stock Holdings Cut by Lodge Hill Capital LLC

Lodge Hill Capital LLC lessened its holdings in Owens Corning (NYSE:OC) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,200 shares of the construction company’s stock after selling 5,000 shares during the period. Owens Corning comprises approximately 6.5% of Lodge Hill Capital LLC’s holdings, making the stock its 4th biggest position. Lodge Hill Capital LLC owned approximately 0.16% of Owens Corning worth $24,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OC. MV Capital Management Inc. lifted its stake in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. NBC Securities Inc. bought a new stake in Owens Corning during the first quarter worth approximately $26,000. ST Germain D J Co. Inc. lifted its stake in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Owens Corning in the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC purchased a new stake in Owens Corning during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and boosted their price target for the company from $178.00 to $191.00 in a report on Thursday, July 11th. Royal Bank of Canada raised their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

Insider Transactions at Owens Corning

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 2.2 %

NYSE OC opened at $174.28 on Friday. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a 50 day moving average price of $167.63 and a 200 day moving average price of $169.39. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The firm has a market cap of $15.10 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.22 earnings per share. As a group, sell-side analysts forecast that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend 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.