V Wealth Management LLC Buys 1,364 Shares of Owens Corning (OC)

V Wealth Management LLC increased its stake in Owens Corning (NYSE:OC) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 36,543 shares of the construction company’s stock after buying an additional 1,364 shares during the period. Owens Corning makes up 1.4% of V Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. V Wealth Management LLC’s holdings in Owens Corning were worth $2,234,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bluestein R H & Co. increased its stake in Owens Corning by 0.3% in the fourth quarter. Bluestein R H & Co. now owns 6,518 shares of the construction company’s stock worth $336,000 after buying an additional 18 shares during the period. Shinko Asset Management Co. Ltd. increased its stake in Owens Corning by 0.8% in the third quarter. Shinko Asset Management Co. Ltd. now owns 6,364 shares of the construction company’s stock worth $340,000 after buying an additional 49 shares during the period. New York State Teachers Retirement System increased its stake in Owens Corning by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 10,200 shares of the construction company’s stock worth $526,000 after buying an additional 200 shares during the period. Hancock Holding Co. increased its stake in Owens Corning by 2.0% in the third quarter. Hancock Holding Co. now owns 16,975 shares of the construction company’s stock worth $906,000 after buying an additional 326 shares during the period. Finally, CrestPoint Capital Management LLC increased its stake in Owens Corning by 3.3% in the first quarter. CrestPoint Capital Management LLC now owns 12,500 shares of the construction company’s stock worth $767,000 after buying an additional 400 shares during the period.

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

Owens Corning (NYSE:OC) traded down 0.48% during trading on Friday, hitting $61.57. The stock had a trading volume of 872,022 shares. The company has a 50 day moving average of $60.96 and a 200-day moving average of $55.15. Owens Corning has a 12-month low of $45.46 and a 12-month high of $62.79. The company has a market cap of $6.92 billion, a P/E ratio of 18.06 and a beta of 1.09.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, February 8th. The construction company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.12. Owens Corning had a return on equity of 10.75% and a net margin of 6.92%. The firm earned $1.38 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post $3.90 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 8th. This represents a $0.80 annualized dividend and a yield of 1.30%. Owens Corning’s payout ratio is 23.46%.

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A number of research analysts have recently weighed in on the company. MKM Partners restated a “sell” rating and issued a $46.00 price target (up previously from $45.00) on shares of Owens Corning in a research report on Friday, February 10th. Royal Bank of Canada restated a “buy” rating and issued a $67.00 price target on shares of Owens Corning in a research report on Friday. Nomura assumed coverage on Owens Corning in a research report on Wednesday, April 12th. They issued a “buy” rating and a $74.00 price target for the company. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a research report on Thursday, March 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $60.39.

In related news, Director Ralph F. Hake sold 8,149 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $60.00, for a total transaction of $488,940.00. Following the completion of the sale, the director now owns 44,546 shares in the company, valued at approximately $2,672,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Chambers sold 10,000 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $61.95, for a total value of $619,500.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $2,025,021.60. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.

5 Day Chart for NYSE:OC

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