WealthBridge Investment Counsel Inc. Decreases Stake in Owens Corning (NYSE:OC)

WealthBridge Investment Counsel Inc. decreased its holdings in Owens Corning (NYSE:OC) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,270 shares of the construction company’s stock after selling 150 shares during the quarter. Owens Corning comprises approximately 2.2% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 25th biggest holding. WealthBridge Investment Counsel Inc.’s holdings in Owens Corning were worth $5,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in Owens Corning by 66.0% during the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after buying an additional 84,958 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Owens Corning by 11.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after acquiring an additional 4,259 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in Owens Corning by 452.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after purchasing an additional 15,667 shares in the last quarter. EMG Holdings L.P. acquired a new position in Owens Corning during the fourth quarter worth $5,336,000. Finally, Bridgefront Capital LLC purchased a new stake in Owens Corning during the fourth quarter worth $910,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In other Owens Corning news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the sale, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Owens Corning news, VP Mari Doerfler sold 240 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the transaction, the vice president now owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 34,626 shares of the company’s stock, valued at approximately $6,262,112.10. The disclosure for this sale can be found here. Insiders have sold 19,360 shares of company stock valued at $3,437,315 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Owens Corning in a research note on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price target for the company. Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Evercore ISI raised their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research note on Thursday, April 25th. UBS Group upped their target price on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays boosted their price target on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Owens Corning Trading Down 0.0 %

Owens Corning stock traded down $0.02 during trading on Thursday, reaching $168.35. The company had a trading volume of 299,341 shares, compared to its average volume of 642,819. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 5.01 and a beta of 1.42. Owens Corning has a 12-month low of $109.95 and a 12-month high of $184.00. The stock’s 50 day moving average price is $175.63 and its two-hundred day moving average price is $162.04.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping 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 return on equity of 26.52% and a net margin of 11.53%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.77 EPS. As a group, equities analysts expect that Owens Corning will post 15.48 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Owens Corning Company 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.