Mercer Global Advisors Inc. ADV Buys 3,110 Shares of Owens Corning (NYSE:OC)

Mercer Global Advisors Inc. ADV grew its stake in shares of Owens Corning (NYSE:OC) by 23.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,098 shares of the construction company’s stock after acquiring an additional 3,110 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Owens Corning were worth $2,796,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OC. Menard Financial Group LLC raised its stake in shares of Owens Corning by 23.2% in the second quarter. Menard Financial Group LLC now owns 1,723 shares of the construction company’s stock valued at $299,000 after buying an additional 325 shares during the period. Williams Financial LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $285,000. Envestnet Asset Management Inc. raised its stake in Owens Corning by 60.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 189,309 shares of the construction company’s stock valued at $32,887,000 after acquiring an additional 71,164 shares during the period. William Blair Investment Management LLC purchased a new stake in Owens Corning during the second quarter valued at about $31,818,000. Finally, Vest Financial LLC boosted its position in Owens Corning by 20.9% during the second quarter. Vest Financial LLC now owns 6,252 shares of the construction company’s stock worth $1,086,000 after purchasing an additional 1,082 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 2.2 %

OC stock opened at $174.20 on Monday. The company’s 50 day moving average is $167.63 and its 200 day moving average is $169.66. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

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

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th 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 Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a research report on Monday, June 17th. Royal Bank of Canada raised their price target on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Evercore ISI cut their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research note 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $184.23.

Insider Transactions at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Marcio A. Sandri sold 3,050 shares of the 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 transaction, the insider now owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on Thursday, June 27th. The stock was 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 owns 31,626 shares in the company, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

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.