Gargoyle Investment Advisor L.L.C. continued to hold its position in shares of Owens Corning (NYSE:OC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,548 shares of the company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Owens Corning were worth $956,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in Owens Corning during the first quarter worth $109,000. NN Investment Partners Holdings N.V. acquired a new stake in Owens Corning during the first quarter worth $179,000. Raymond James Trust N.A. boosted its stake in Owens Corning by 1.0% in the second quarter. Raymond James Trust N.A. now owns 5,122 shares of the company’s stock worth $264,000 after buying an additional 53 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in Owens Corning by 3.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,600 shares of the company’s stock worth $265,000 after buying an additional 200 shares in the last quarter. Finally, Regentatlantic Capital LLC acquired a new stake in Owens Corning during the second quarter worth $343,000.
Owens Corning (NYSE:OC) traded up 0.51% during mid-day trading on Tuesday, hitting $53.11. The company’s stock had a trading volume of 1,058,821 shares. Owens Corning has a 52-week low of $38.96 and a 52-week high of $58.69. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 14.99 and a beta of 1.41. The firm has a 50 day moving average of $53.42 and a 200-day moving average of $51.51.
Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.43. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.46 billion. Owens Corning had a net margin of 7.52% and a return on equity of 10.57%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, equities research analysts expect that Owens Corning will post $3.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. Owens Corning’s payout ratio is 20.28%.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on Owens Corning from $55.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Citigroup Inc. increased their price objective on Owens Corning from $41.00 to $43.00 and gave the company a “sell” rating in a research report on Friday, July 29th. MKM Partners reiterated a “sell” rating on shares of Owens Corning in a research report on Thursday, July 28th. Goldman Sachs Group Inc. upgraded Owens Corning from a “sell” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $58.00 in a research report on Monday, July 11th. Finally, Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $54.75.
In related news, VP Daniel T. Smith sold 13,700 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $54.00, for a total value of $739,800.00. Following the completion of the sale, the vice president now directly owns 58,975 shares in the company, valued at $3,184,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael H. Thaman sold 150,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $53.19, for a total value of $7,978,500.00. Following the completion of the sale, the chairman now owns 835,189 shares of the company’s stock, valued at $44,423,702.91. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Owens Corning Company Profile
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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