Owens Corning Inc $OC Stock Holdings Increased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. boosted its position in Owens Corning Inc (NYSE:OC) by 22.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,243 shares of the construction company’s stock after buying an additional 1,331 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Owens Corning were worth $996,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. Wealth Enhancement Advisory Services LLC increased its holdings in Owens Corning by 21.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company’s stock valued at $1,245,000 after buying an additional 1,558 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Owens Corning by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company’s stock valued at $4,416,000 after buying an additional 3,298 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Owens Corning by 1.8% during the first quarter. Asset Management One Co. Ltd. now owns 32,459 shares of the construction company’s stock valued at $4,636,000 after purchasing an additional 560 shares during the last quarter. Wealthquest Corp bought a new position in shares of Owens Corning during the first quarter valued at approximately $458,000. Finally, First Pacific Financial bought a new position in shares of Owens Corning during the first quarter valued at approximately $684,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

OC opened at $126.75 on Thursday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 9.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. Owens Corning Inc has a 1-year low of $123.23 and a 1-year high of $214.53. The business has a 50 day moving average price of $143.60 and a two-hundred day moving average price of $141.08.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm earned $4.64 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts predict that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s payout ratio is 71.69%.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. UBS Group lowered their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company upped their target price on Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Bank of America lowered their target price on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a report on Wednesday, October 8th. Finally, Barclays upped their target price on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

About Owens Corning

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.