6,600 Shares in Owens Corning (NYSE:OC) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new position in Owens Corning (NYSE:OC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,600 shares of the construction company’s stock, valued at approximately $1,147,000.

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

Analyst Upgrades and Downgrades

OC has been the topic of several recent research reports. Evercore ISI reduced their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. Barclays cut their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a report on Monday, June 17th. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price target for the stock from $178.00 to $191.00 in a report on Thursday, July 11th. Finally, UBS Group upped their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.23.

Owens Corning Stock Up 1.1 %

Shares of NYSE:OC opened at $176.30 on Tuesday. The firm has a market capitalization of $15.28 billion, a P/E ratio of 14.28, a P/E/G ratio of 3.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a 50 day moving average price of $167.42 and a 200-day moving average price of $170.34. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings data 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. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company earned $4.22 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors 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 1.36%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s payout ratio is currently 19.43%.

Insiders Place Their Bets

In other news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred 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 transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares in the company, valued at $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The disclosure for this sale can be found here. Corporate 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.