Owens Corning Inc $OC Stake Reduced by Hodges Capital Management Inc.

Hodges Capital Management Inc. reduced its stake in shares of Owens Corning Inc (NYSE:OC) by 38.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 31,517 shares of the construction company’s stock after selling 19,590 shares during the period. Hodges Capital Management Inc.’s holdings in Owens Corning were worth $4,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC grew its stake in Owens Corning by 0.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company’s stock worth $1,863,000 after buying an additional 74 shares during the last quarter. Menard Financial Group LLC increased its stake in shares of Owens Corning by 3.6% in the fourth quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock valued at $387,000 after purchasing an additional 80 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Owens Corning by 13.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company’s stock valued at $125,000 after purchasing an additional 85 shares during the period. UMB Bank n.a. increased its stake in shares of Owens Corning by 9.8% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the construction company’s stock valued at $143,000 after purchasing an additional 89 shares during the period. Finally, Archer Investment Corp increased its stake in shares of Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after purchasing an additional 100 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

Shares of OC opened at $157.65 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm’s 50 day moving average is $147.25 and its 200-day moving average is $142.72. Owens Corning Inc has a 12-month low of $123.40 and a 12-month high of $214.53. The stock has a market capitalization of $13.18 billion, a P/E ratio of 40.95, a P/E/G ratio of 10.84 and a beta of 1.32.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Monday, July 21st were given a $0.69 dividend. The ex-dividend date was Monday, July 21st. This represents a $2.76 annualized dividend and a yield of 1.8%. Owens Corning’s payout ratio is 71.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OC shares. Wells Fargo & Company raised their price target on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank Of Canada dropped their price target on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Barclays raised their price target on shares of Owens Corning from $167.00 to $173.00 and gave the company 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. Finally, Evercore ISI raised their price target on shares of Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.10.

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.