Swiss National Bank lifted its position in shares of Owens Corning (NYSE:OC) by 1.4% in the second quarter, HoldingsChannel.com reports. The fund owned 428,213 shares of the construction company’s stock after buying an additional 5,900 shares during the period. Swiss National Bank’s holdings in Owens Corning were worth $23,877,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Botty Investors LLC bought a new position in shares of Owens Corning during the second quarter valued at $28,000. Cerebellum GP LLC bought a new position in shares of Owens Corning during the second quarter valued at $119,000. CVA Family Office LLC bought a new position in shares of Owens Corning during the second quarter valued at $75,000. Meeder Asset Management Inc. raised its stake in shares of Owens Corning by 278.5% during the first quarter. Meeder Asset Management Inc. now owns 1,658 shares of the construction company’s stock valued at $65,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Owens Corning by 40.3% during the second quarter. Parallel Advisors LLC now owns 3,157 shares of the construction company’s stock valued at $176,000 after acquiring an additional 907 shares during the last quarter. 95.05% of the stock is owned by institutional investors.
Owens Corning stock opened at $67.33 on Tuesday. Owens Corning has a 1-year low of $28.56 and a 1-year high of $68.72. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of -12.18, a price-to-earnings-growth ratio of 4.08 and a beta of 1.53. The firm’s fifty day moving average price is $60.22 and its two-hundred day moving average price is $51.84. The company has a current ratio of 1.87, a quick ratio of 1.19 and a debt-to-equity ratio of 0.94.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.62. Owens Corning had a negative net margin of 8.79% and a positive return on equity of 11.35%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, research analysts forecast that Owens Corning will post 3.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 16th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, July 15th. Owens Corning’s dividend payout ratio (DPR) is 21.15%.
In other Owens Corning news, Director W Howard Morris sold 2,660 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.35, for a total value of $179,151.00. Following the transaction, the director now directly owns 37,672 shares of the company’s stock, valued at $2,537,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on OC shares. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research report on Monday, August 3rd. Jefferies Financial Group increased their price objective on shares of Owens Corning from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Benchmark cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Zelman & Associates cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, TheStreet upgraded shares of Owens Corning from a “d+” rating to a “c-” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Owens Corning currently has an average rating of “Hold” and an average target price of $62.43.
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.
Featured Story: Bollinger Bands
Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC).