California State Teachers Retirement System Acquires 15,824 Shares of Owens Corning Inc $OC

California State Teachers Retirement System increased its holdings in shares of Owens Corning Inc (NYSE:OC) by 20.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 95,124 shares of the construction company’s stock after acquiring an additional 15,824 shares during the period. California State Teachers Retirement System’s holdings in Owens Corning were worth $10,294,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OC. Empowered Funds LLC increased its stake in Owens Corning by 38.8% in the 1st quarter. Empowered Funds LLC now owns 44,954 shares of the construction company’s stock valued at $4,865,000 after buying an additional 12,573 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Owens Corning by 5.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 62,093 shares of the construction company’s stock worth $6,720,000 after buying an additional 3,093 shares during the last quarter. Glen Eagle Advisors LLC grew its holdings in shares of Owens Corning by 42.2% in the 1st quarter. Glen Eagle Advisors LLC now owns 559 shares of the construction company’s stock valued at $60,000 after acquiring an additional 166 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Owens Corning by 10.0% in the 1st quarter. Quantinno Capital Management LP now owns 208,320 shares of the construction company’s stock valued at $22,544,000 after acquiring an additional 18,859 shares in the last quarter. Finally, Family Manage LLC increased its position in shares of Owens Corning by 14.3% in the first quarter. Family Manage LLC now owns 2,145 shares of the construction company’s stock valued at $232,000 after acquiring an additional 268 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $193.00 price objective on shares of Owens Corning in a report on Thursday, July 23rd. Finally, Wells Fargo & Company raised their target price on shares of Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.92.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.92% of the company’s stock.

Owens Corning Trading Up 3.1%

Shares of NYSE:OC opened at $143.15 on Tuesday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a market capitalization of $11.53 billion, a P/E ratio of -21.66, a price-to-earnings-growth ratio of 2.70 and a beta of 1.32. The company has a 50-day simple moving average of $134.46 and a 200 day simple moving average of $124.39. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.97 earnings per share. Sell-side analysts forecast that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -47.81%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.