Nisa Investment Advisors LLC raised its position in shares of Owens Corning (NYSE:OC) by 60.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,200 shares of the construction company’s stock after purchasing an additional 3,100 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Owens Corning were worth $477,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its stake in shares of Owens Corning by 1.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,580 shares of the construction company’s stock valued at $546,000 after purchasing an additional 215 shares in the last quarter. Sage Capital Advisors llc increased its position in Owens Corning by 0.8% in the first quarter. Sage Capital Advisors llc now owns 30,401 shares of the construction company’s stock worth $1,432,000 after buying an additional 250 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Owens Corning in the first quarter worth about $26,000. MBM Wealth Consultants LLC grew its position in shares of Owens Corning by 9.0% during the first quarter. MBM Wealth Consultants LLC now owns 7,671 shares of the construction company’s stock worth $361,000 after purchasing an additional 633 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Owens Corning by 4.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 16,788 shares of the construction company’s stock worth $791,000 after purchasing an additional 648 shares in the last quarter. 96.27% of the stock is owned by institutional investors and hedge funds.
In related news, insider Gunner Smith sold 7,900 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.79, for a total transaction of $409,141.00. Following the transaction, the insider now directly owns 21,189 shares in the company, valued at approximately $1,097,378.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael H. Thaman sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $51.49, for a total value of $1,544,700.00. Following the transaction, the insider now owns 856,240 shares in the company, valued at $44,087,797.60. The disclosure for this sale can be found here. Insiders sold a total of 40,338 shares of company stock worth $2,083,128 over the last quarter. Company insiders own 1.70% of the company’s stock.
Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.18. Owens Corning had a return on equity of 12.18% and a net margin of 7.21%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $1.17 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Owens Corning will post 4.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 16th were issued a $0.22 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. Owens Corning’s dividend payout ratio is presently 17.81%.
Several equities research analysts have recently issued reports on OC shares. Seaport Global Securities raised Owens Corning from a “sell” rating to a “neutral” rating in a research note on Thursday, June 27th. Stifel Nicolaus lowered Owens Corning from a “buy” rating to a “hold” rating and set a $52.45 target price for the company. in a research report on Wednesday, April 24th. Barclays reaffirmed a “buy” rating and set a $65.00 target price on shares of Owens Corning in a research report on Monday, July 1st. Zacks Investment Research lowered Owens Corning from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Finally, Nomura reaffirmed a “neutral” rating and set a $48.00 target price (down from $70.00) on shares of Owens Corning in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $58.29.
Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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