American Century Companies Inc. Grows Stock Position in Owens Corning (NYSE:OC)

American Century Companies Inc. boosted its stake in Owens Corning (NYSE:OC) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,328 shares of the construction company’s stock after acquiring an additional 27,013 shares during the quarter. American Century Companies Inc.’s holdings in Owens Corning were worth $51,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC increased its position in Owens Corning by 7.0% in the second quarter. Gryphon Financial Partners LLC now owns 2,041 shares of the construction company’s stock worth $355,000 after buying an additional 134 shares during the period. United Services Automobile Association increased its holdings in shares of Owens Corning by 30.2% during the second quarter. United Services Automobile Association now owns 36,118 shares of the construction company’s stock valued at $6,274,000 after purchasing an additional 8,388 shares during the period. Choreo LLC acquired a new position in shares of Owens Corning during the second quarter valued at $384,000. Wedbush Securities Inc. boosted its stake in Owens Corning by 6.8% during the second quarter. Wedbush Securities Inc. now owns 2,160 shares of the construction company’s stock valued at $375,000 after buying an additional 137 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Owens Corning by 1,609.0% during the second quarter. Quest Partners LLC now owns 5,332 shares of the construction company’s stock valued at $926,000 after buying an additional 5,020 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

NYSE:OC opened at $167.77 on Tuesday. The firm’s 50-day moving average is $167.42 and its 200-day moving average is $169.02. Owens Corning has a 52-week low of $109.95 and a 52-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 $14.54 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 3.18 and a beta of 1.41.

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

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were given a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. Owens Corning’s payout ratio is 19.43%.

Analyst Upgrades and Downgrades

OC has been the subject of a number of recent analyst reports. Citigroup upgraded Owens Corning from a “neutral” rating to a “buy” rating and increased their price target for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Loop Capital increased their price target on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a research note on Monday, June 17th. Finally, Barclays reduced their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by company insiders.

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.