Menard Financial Group LLC Boosts Stock Position in Owens Corning (NYSE:OC)

Menard Financial Group LLC raised its stake in shares of Owens Corning (NYSE:OC) by 23.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,723 shares of the construction company’s stock after acquiring an additional 325 shares during the period. Menard Financial Group LLC’s holdings in Owens Corning were worth $299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Williams Financial LLC acquired a new stake in shares of Owens Corning in the 2nd quarter worth approximately $285,000. Envestnet Asset Management Inc. grew its holdings in shares of Owens Corning by 60.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 189,309 shares of the construction company’s stock worth $32,887,000 after acquiring an additional 71,164 shares during the period. William Blair Investment Management LLC acquired a new stake in Owens Corning during the 2nd quarter valued at $31,818,000. Vest Financial LLC grew its holdings in Owens Corning by 20.9% during the 2nd quarter. Vest Financial LLC now owns 6,252 shares of the construction company’s stock valued at $1,086,000 after buying an additional 1,082 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Owens Corning during the 2nd quarter valued at $1,091,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on OC. The Goldman Sachs Group reiterated a “neutral” rating and set a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Royal Bank of Canada increased their target price on Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on Owens Corning in a report on Wednesday, May 22nd. They set a “buy” rating and a $215.00 target price on the stock. Barclays lowered their target price on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Trading Up 2.4 %

Shares of OC opened at $165.60 on Monday. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $14.35 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The stock’s fifty day simple moving average is $167.41 and its 200 day simple moving average is $168.89. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13.

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, topping 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 return on equity of 26.33% and a net margin of 10.66%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $4.22 EPS. On average, equities research analysts forecast that Owens Corning will post 15.38 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, July 15th. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Owens Corning 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.