Ashton Thomas Private Wealth LLC Trims Stake in Owens Corning (NYSE:OC)

Ashton Thomas Private Wealth LLC cut its position in shares of Owens Corning (NYSE:OC) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,434 shares of the construction company’s stock after selling 338 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Owens Corning were worth $2,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. raised its position in Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Owens Corning in the 1st quarter worth $26,000. Riverview Trust Co bought a new position in shares of Owens Corning in the 1st quarter worth $28,000. Finally, ORG Partners LLC bought a new position in shares of Owens Corning in the 1st quarter worth $31,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 0.3 %

Owens Corning stock opened at $156.73 on Tuesday. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $191.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37. The company has a market cap of $13.63 billion, a PE ratio of 12.69, a PEG ratio of 3.12 and a beta of 1.41. The business’s 50-day simple moving average is $167.93 and its two-hundred day simple moving average is $168.53.

Owens Corning (NYSE:OC) last issued its earnings results on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business earned $4.22 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 15.38 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.53%. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Activity at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the sale, the chief financial officer now owns 34,626 shares of the company’s stock, valued at $6,262,112.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Mari Doerfler sold 240 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total value of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the sale, the chief financial officer now owns 34,626 shares in the company, valued at $6,262,112.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,240 shares of company stock valued at $1,107,192. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

OC has been the subject of several recent research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 price target on shares of Owens Corning in a research report on Monday, June 17th. Evercore ISI dropped their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Finally, Loop Capital boosted their target price on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.23.

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.