Janney Montgomery Scott LLC Acquires 1,732 Shares of Owens Corning Inc (OC)
Janney Montgomery Scott LLC raised its stake in shares of Owens Corning Inc (NYSE:OC) by 16.7% during the second quarter, Holdings Channel reports. The firm owned 12,088 shares of the construction company’s stock after buying an additional 1,732 shares during the period. Janney Montgomery Scott LLC’s holdings in Owens Corning were worth $809,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Personal Capital Advisors Corp purchased a new stake in shares of Owens Corning during the first quarter worth about $227,000. Suntrust Banks Inc. increased its stake in shares of Owens Corning by 328.1% in the first quarter. Suntrust Banks Inc. now owns 32,675 shares of the construction company’s stock worth $2,004,000 after buying an additional 25,042 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Owens Corning by 554.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,351 shares of the construction company’s stock worth $994,000 after buying an additional 13,851 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 472,051 shares of the construction company’s stock worth $28,969,000 after buying an additional 68,626 shares during the period. Finally, TLP Group LLC increased its stake in shares of Owens Corning by 75.3% in the first quarter. TLP Group LLC now owns 6,282 shares of the construction company’s stock worth $386,000 after buying an additional 2,699 shares during the period.
Shares of Owens Corning Inc (OC) opened at 67.33 on Wednesday. Owens Corning Inc has a 12 month low of $46.45 and a 12 month high of $68.88. The firm has a market capitalization of $7.49 billion, a PE ratio of 19.34 and a beta of 1.11. The stock has a 50 day moving average of $66.62 and a 200-day moving average of $62.38.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning Inc will post $4.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Owens Corning’s dividend payout ratio is presently 23.05%.
OC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, June 28th. Northcoast Research set a $76.00 price target on shares of Owens Corning and gave the stock a “buy” rating in a report on Tuesday, June 27th. BidaskClub raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Royal Bank Of Canada reissued a “buy” rating and set a $67.00 price target on shares of Owens Corning in a report on Friday, April 21st. Finally, Instinet reissued a “buy” rating and set a $74.00 price target on shares of Owens Corning in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Owens Corning currently has an average rating of “Buy” and a consensus price target of $70.53.
In related news, Director James J. Mcmonagle sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $64.60, for a total value of $129,200.00. Following the sale, the director now directly owns 50,906 shares in the company, valued at approximately $3,288,527.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Arnaud Genis sold 21,544 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total transaction of $1,409,839.36. Following the completion of the sale, the insider now owns 80,143 shares in the company, valued at $5,244,557.92. The disclosure for this sale can be found here. Insiders sold a total of 40,144 shares of company stock worth $2,654,227 over the last quarter. Insiders own 1.80% of the company’s stock.
Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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