Great Lakes Advisors LLC Purchases Shares of 27,225 Owens Corning Inc $OC

Great Lakes Advisors LLC acquired a new position in Owens Corning Inc (NYSE:OC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 27,225 shares of the construction company’s stock, valued at approximately $4,328,000.

A number of other large investors have also recently made changes to their positions in OC. Pitcairn Co. increased its stake in shares of Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after buying an additional 80 shares during the period. First Pacific Financial raised its holdings in shares of Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after acquiring an additional 85 shares in the last quarter. Viawealth LLC lifted its stake in Owens Corning by 3.6% in the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after acquiring an additional 88 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in Owens Corning by 2.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after acquiring an additional 90 shares during the period. Finally, Basecamp Wealth Advisors LLC boosted its holdings in Owens Corning by 3.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock valued at $359,000 after acquiring an additional 97 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Stock Down 2.7%

Shares of NYSE:OC opened at $147.19 on Friday. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of -18.26, a PEG ratio of 2.28 and a beta of 1.32. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The stock has a fifty day simple moving average of $142.73 and a two-hundred day simple moving average of $127.15.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.84. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.21 earnings per share. On average, research analysts anticipate that Owens Corning Inc will post 9.9 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Analyst Ratings Changes

A number of research analysts have issued reports on OC shares. Wall Street Zen raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup lifted their target price on shares of Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. Evercore reissued an “outperform” rating and issued a $193.00 price target on shares of Owens Corning in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.