Hodges Capital Management Inc. Acquires 1,001 Shares of Owens Corning (OC)

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Hodges Capital Management Inc. lifted its holdings in shares of Owens Corning (NYSE:OC) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,273 shares of the construction company’s stock after acquiring an additional 1,001 shares during the quarter. Hodges Capital Management Inc.’s holdings in Owens Corning were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in Owens Corning during the 4th quarter worth $40,000. Reilly Financial Advisors LLC purchased a new stake in Owens Corning during the 4th quarter worth $48,000. Oregon Public Employees Retirement Fund increased its stake in Owens Corning by 5,667.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock worth $49,000 after buying an additional 2,098,162 shares during the period. IFP Advisors Inc increased its stake in Owens Corning by 32.7% during the 4th quarter. IFP Advisors Inc now owns 1,262 shares of the construction company’s stock worth $55,000 after buying an additional 311 shares during the period. Finally, Bremer Trust National Association purchased a new stake in Owens Corning during the 4th quarter worth $76,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

OC opened at $53.34 on Wednesday. The stock has a market capitalization of $5.75 billion, a PE ratio of 10.80, a P/E/G ratio of 1.07 and a beta of 1.19. Owens Corning has a 1-year low of $40.64 and a 1-year high of $82.71. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.78.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 20th. The construction company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Owens Corning had a net margin of 7.72% and a return on equity of 12.92%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, equities analysts expect that Owens Corning will post 4.92 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 7th. Owens Corning’s payout ratio is currently 17.81%.

In related news, VP Daniel T. Smith sold 18,681 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $50.75, for a total transaction of $948,060.75. Following the completion of the sale, the vice president now owns 74,891 shares of the company’s stock, valued at approximately $3,800,718.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marcio A. Sandri sold 3,700 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.01, for a total transaction of $173,937.00. Following the sale, the insider now directly owns 42,005 shares of the company’s stock, valued at approximately $1,974,655.05. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

OC has been the topic of several analyst reports. Citigroup set a $53.00 price target on shares of Owens Corning and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Zacks Investment Research downgraded shares of Owens Corning from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. Barclays set a $58.00 price target on shares of Owens Corning and gave the stock a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised shares of Owens Corning from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. Finally, Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.12.

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About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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