Owens Corning Inc (OC) Position Maintained by Hillsdale Investment Management Inc.
Hillsdale Investment Management Inc. continued to hold its stake in shares of Owens Corning Inc (NYSE:OC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,400 shares of the construction company’s stock at the end of the 2nd quarter. Hillsdale Investment Management Inc.’s holdings in Owens Corning were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Zacks Investment Management raised its holdings in shares of Owens Corning by 8.6% in the second quarter. Zacks Investment Management now owns 16,576 shares of the construction company’s stock valued at $1,109,000 after purchasing an additional 1,306 shares during the last quarter. Global Financial Private Capital LLC raised its holdings in shares of Owens Corning by 8.2% in the second quarter. Global Financial Private Capital LLC now owns 34,231 shares of the construction company’s stock valued at $2,291,000 after purchasing an additional 2,589 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Owens Corning by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,666,185 shares of the construction company’s stock valued at $245,337,000 after purchasing an additional 27,809 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Owens Corning by 212,453.3% in the second quarter. Globeflex Capital L P now owns 31,883 shares of the construction company’s stock valued at $2,134,000 after purchasing an additional 31,868 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Owens Corning by 4.9% in the second quarter. Advisor Group Inc. now owns 9,009 shares of the construction company’s stock valued at $600,000 after purchasing an additional 418 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.
Owens Corning Inc (OC) opened at 77.35 on Friday. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $77.57. The stock has a market cap of $8.60 billion, a P/E ratio of 22.22 and a beta of 1.04. The stock has a 50 day moving average of $70.76 and a 200 day moving average of $64.99.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior 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. Equities analysts anticipate that Owens Corning Inc will post $4.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Monday, October 16th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 13th. Owens Corning’s payout ratio is currently 23.05%.
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OC has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a report on Friday, September 1st. Nomura reiterated a “neutral” rating and issued a $79.00 target price on shares of Owens Corning in a report on Monday, September 11th. Wells Fargo & Company upgraded shares of Owens Corning from a “market perform” rating to an “outperform” rating and increased their target price for the company from $68.00 to $83.00 in a report on Wednesday, August 30th. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Owens Corning in a report on Tuesday, September 12th. Finally, Barclays PLC increased their target price on shares of Owens Corning from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.79.
In related news, Chairman Michael H. Thaman sold 130,700 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total value of $9,795,965.00. Following the completion of the sale, the chairman now directly owns 847,992 shares of the company’s stock, valued at approximately $63,557,000.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Chambers sold 16,600 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the completion of the sale, the insider now directly owns 39,957 shares of the company’s stock, valued at $2,684,311.26. The disclosure for this sale can be found here. Insiders have sold a total of 212,866 shares of company stock valued at $15,644,970 in the last ninety days. Insiders own 1.80% of the company’s stock.
About Owens Corning
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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