Cambridge Investment Research Advisors Inc. Acquires 1,659 Shares of Owens Corning (OC)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Owens Corning (NYSE:OC) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,663 shares of the construction company’s stock after acquiring an additional 1,659 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Owens Corning were worth $888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerebellum GP LLC bought a new position in Owens Corning during the fourth quarter valued at approximately $119,000. Strs Ohio bought a new position in Owens Corning during the fourth quarter valued at approximately $129,000. Focused Wealth Management Inc bought a new position in Owens Corning during the fourth quarter valued at approximately $175,000. Avestar Capital LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $176,000. Finally, LS Investment Advisors LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $198,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

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OC has been the topic of several analyst reports. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Thursday, January 18th. Zelman & Associates downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Credit Suisse Group reiterated an “outperform” rating and set a $110.00 price target (up previously from $95.00) on shares of Owens Corning in a report on Monday, January 22nd. They noted that the move was a valuation call. MKM Partners increased their price target on Owens Corning to $86.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Seaport Global Securities increased their price target on Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $87.81.

In related news, VP Ava Harter sold 1,100 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $84.00, for a total value of $92,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arnaud Genis sold 59,541 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $81.32, for a total value of $4,841,874.12. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Shares of Owens Corning stock opened at $80.89 on Friday. The firm has a market capitalization of $9,111.88, a PE ratio of 18.38, a P/E/G ratio of 0.80 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55. Owens Corning has a 1 year low of $59.26 and a 1 year high of $96.52.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.07. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. Owens Corning’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. sell-side analysts anticipate that Owens Corning will post 5.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th were paid a $0.21 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.84 annualized dividend and a dividend yield of 1.04%. Owens Corning’s payout ratio is 19.09%.

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About Owens Corning

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. 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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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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