CWA Asset Management Group LLC Acquires Shares of 5,924 Owens Corning (NYSE:OC)

CWA Asset Management Group LLC acquired a new stake in Owens Corning (NYSE:OC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,924 shares of the construction company’s stock, valued at approximately $1,046,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. boosted its position in shares of Owens Corning by 794.1% during the second quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Owens Corning during the second quarter worth $32,000. Tobam boosted its position in shares of Owens Corning by 115.7% during the second quarter. Tobam now owns 192 shares of the construction company’s stock worth $33,000 after purchasing an additional 103 shares in the last quarter. Quarry LP boosted its position in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Owens Corning during the second quarter worth $48,000. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent analyst reports. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Owens Corning Stock Up 1.6 %

Shares of OC stock opened at $190.44 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. Owens Corning has a 1 year low of $121.08 and a 1 year high of $193.93. The firm’s fifty day moving average price is $175.83 and its two-hundred day moving average price is $173.74. The firm has a market capitalization of $16.34 billion, a P/E ratio of 16.21, a PEG ratio of 2.35 and a beta of 1.41.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the business earned $4.15 EPS. The company’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Insider Activity

In other news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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.