Lee Danner & Bass Inc. Invests $1.74 Million in Owens Corning (NYSE:OC)

Lee Danner & Bass Inc. purchased a new stake in shares of Owens Corning (NYSE:OC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,031 shares of the construction company’s stock, valued at approximately $1,743,000.

Several other large investors have also recently added to or reduced their stakes in OC. SG Americas Securities LLC increased its stake in shares of Owens Corning by 102.0% in the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after buying an additional 20,971 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after acquiring an additional 84,958 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Owens Corning by 14.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after acquiring an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Owens Corning by 11.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after acquiring an additional 4,259 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Owens Corning by 452.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock worth $2,835,000 after purchasing an additional 15,667 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

OC has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Loop Capital lifted their target price on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Evercore ISI reduced their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Owens Corning from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price target for the company from $178.00 to $191.00 in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Hold” and an average target price of $184.23.

Insider Activity

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the transaction, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Owens Corning news, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total value of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total transaction of $542,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,626 shares in the company, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,240 shares of company stock worth $1,107,192. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC traded up $2.29 during trading on Friday, reaching $168.78. 751,626 shares of the company traded hands, compared to its average volume of 670,245. The firm has a market capitalization of $14.63 billion, a PE ratio of 13.67, a PEG ratio of 3.15 and a beta of 1.42. Owens Corning has a 52 week low of $109.95 and a 52 week high of $191.13. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $169.47 and its two-hundred day moving average is $167.45.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping 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 quarter in the prior year, the firm posted $4.22 EPS. As a group, sell-side analysts predict that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Owens Corning Profile

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.