Los Angeles Capital Management LLC Acquires 1,262 Shares of Owens Corning (NYSE:OC)

Los Angeles Capital Management LLC grew its holdings in Owens Corning (NYSE:OC) by 21.0% in the first quarter, HoldingsChannel reports. The fund owned 7,265 shares of the construction company’s stock after buying an additional 1,262 shares during the period. Los Angeles Capital Management LLC’s holdings in Owens Corning were worth $1,212,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of OC. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock worth $1,205,000 after purchasing an additional 67 shares during the period. Avantax Advisory Services Inc. lifted its position in Owens Corning by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock worth $457,000 after purchasing an additional 69 shares during the period. Blue Trust Inc. lifted its position in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the period. Caprock Group LLC lifted its position in Owens Corning by 3.7% during the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after purchasing an additional 79 shares during the period. Finally, VisionPoint Advisory Group LLC lifted its position in Owens Corning by 53.0% during the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after purchasing an additional 88 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mari Doerfler sold 240 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,360 shares of company stock valued at $2,916,365. 0.89% of the stock is currently owned by company insiders.

Owens Corning Stock Performance

NYSE:OC opened at $177.70 on Monday. The company has a market capitalization of $15.40 billion, a PE ratio of 14.39, a P/E/G ratio of 5.23 and a beta of 1.46. The company has a 50 day simple moving average of $174.28 and a two-hundred day simple moving average of $160.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 EPS. Research analysts anticipate that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio is presently 19.43%.

Analysts Set New Price Targets

A number of research firms have recently commented on OC. Royal Bank of Canada increased their target price on shares of Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. StockNews.com cut shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Jefferies Financial Group began coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 target price for the company. Finally, Citigroup increased their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $179.00.

About Owens Corning

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.