Shell Asset Management Co. Boosts Stock Holdings in Owens Corning Inc $OC

Shell Asset Management Co. boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 14.6% during the second quarter, HoldingsChannel.com reports. The firm owned 10,220 shares of the construction company’s stock after acquiring an additional 1,300 shares during the period. Shell Asset Management Co.’s holdings in Owens Corning were worth $1,405,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OC. Bangor Savings Bank purchased a new position in Owens Corning during the second quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Owens Corning in the 2nd quarter valued at $42,000. Wayfinding Financial LLC purchased a new position in shares of Owens Corning in the 1st quarter valued at $60,000. Geneos Wealth Management Inc. raised its stake in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after acquiring an additional 184 shares during the period. Finally, Archer Investment Corp raised its stake in shares of Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC stock opened at $133.76 on Thursday. The firm has a market cap of $11.19 billion, a P/E ratio of 34.74, a P/E/G ratio of 9.58 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 $123.40 and a 1-year high of $214.53. The firm has a fifty day moving average of $146.90 and a two-hundred day moving average of $142.24.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.41. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $4.64 EPS. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.1%. Owens Corning’s payout ratio is 71.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. UBS Group dropped their price target on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday. Evercore ISI dropped their price target on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.92.

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.