Marietta Investment Partners LLC Buys 5,260 Shares of Owens Corning (NYSE:OC)

Marietta Investment Partners LLC grew its stake in Owens Corning (NYSE:OC) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,096 shares of the construction company’s stock after acquiring an additional 5,260 shares during the period. Owens Corning accounts for 1.1% of Marietta Investment Partners LLC’s holdings, making the stock its 29th biggest holding. Marietta Investment Partners LLC’s holdings in Owens Corning were worth $5,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the period. Pacer Advisors Inc. increased its holdings in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock valued at $276,655,000 after buying an additional 446,073 shares during the period. Panagora Asset Management Inc. increased its holdings in Owens Corning by 2,813.6% during the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after buying an additional 365,853 shares during the period. Swedbank AB purchased a new position in Owens Corning during the first quarter valued at approximately $60,424,000. Finally, William Blair Investment Management LLC purchased a new position in Owens Corning in the second quarter worth $31,818,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on OC shares. Barclays cut 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 report on Friday, July 12th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Evercore ISI cut their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Finally, Loop Capital lifted their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Trading Down 2.2 %

NYSE OC opened at $174.20 on Monday. The company has a market capitalization of $15.10 billion, a PE ratio of 14.11, a P/E/G ratio of 3.18 and a beta of 1.41. The company has a fifty day moving average of $167.63 and a 200 day moving average of $169.66. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Friday, October 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.38%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Insiders Place Their Bets

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction dated 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 owns 60,130 shares of the company’s stock, valued at $10,222,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. 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.