Mather Group LLC. Acquires 1,729 Shares of Owens Corning (NYSE:OC)

Mather Group LLC. increased its holdings in Owens Corning (NYSE:OC) by 86.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,725 shares of the construction company’s stock after acquiring an additional 1,729 shares during the quarter. Mather Group LLC.’s holdings in Owens Corning were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Owens Corning in the 4th quarter valued at approximately $118,251,000. Nordea Investment Management AB lifted its position in Owens Corning by 74.4% during the first quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after buying an additional 533,910 shares during the period. Swedbank AB bought a new stake in shares of Owens Corning during the 1st quarter valued at $60,424,000. Bank of Nova Scotia grew its position in shares of Owens Corning by 9,571.1% in the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock worth $21,287,000 after buying an additional 142,131 shares during the period. Finally, Cincinnati Insurance Co. bought a new position in shares of Owens Corning in the 1st quarter worth about $21,684,000. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on OC shares. UBS Group boosted their target price on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on shares of Owens Corning in a research report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 price objective on the stock. Barclays reduced their price objective on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. StockNews.com upgraded shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Loop Capital raised their price target on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.92.

Insider Buying and Selling

In other news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the sale, the insider now owns 62,895 shares of the company’s stock, valued at $11,195,310. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction 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 owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,360 shares of company stock worth $3,437,315. 0.89% of the stock is owned by insiders.

Owens Corning Price Performance

OC stock traded down $6.82 during trading on Tuesday, reaching $157.53. The company’s stock had a trading volume of 1,595,509 shares, compared to its average volume of 669,552. The company’s fifty day moving average is $175.06 and its 200-day moving average is $166.40. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The company has a market capitalization of $13.65 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is presently 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.