Resonant Capital Advisors LLC Acquires 359 Shares of Owens Corning Inc $OC

Resonant Capital Advisors LLC boosted its holdings in shares of Owens Corning Inc (NYSE:OC) by 20.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,104 shares of the construction company’s stock after buying an additional 359 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Owens Corning were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bangor Savings Bank acquired a new position in shares of Owens Corning during the 2nd quarter valued at about $28,000. Ameritas Advisory Services LLC acquired a new stake in Owens Corning in the 2nd quarter worth approximately $42,000. Wayfinding Financial LLC bought a new stake in Owens Corning during the first quarter worth approximately $60,000. IFP Advisors Inc grew its holdings in Owens Corning by 76.0% during the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after purchasing an additional 199 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Owens Corning by 61.7% in the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.3%

Shares of OC stock opened at $127.42 on Tuesday. The firm has a fifty day moving average of $142.24 and a 200-day moving average of $141.09. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 9.33 and a beta of 1.32. Owens Corning Inc has a 52-week low of $123.23 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.64 earnings per share. On average, equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

OC has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Truist Financial dropped their price objective on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Bank of America decreased their target price on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Finally, Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Owens Corning Company 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.