Owens Corning Inc (NYSE:OC) announced its quarterly earnings data on Wednesday. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12, Morningstar.com reports. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. Owens Corning had a net margin of 7.38% and a return on equity of 11.56%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share.

Shares of Owens Corning (NYSE:OC) traded up 7.10% during trading on Wednesday, reaching $68.64. 1,908,164 shares of the company traded hands. Owens Corning has a 52 week low of $46.45 and a 52 week high of $68.66. The firm’s 50 day moving average price is $65.55 and its 200-day moving average price is $60.59. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 17.99 and a beta of 1.11.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s payout ratio is 21.00%.

In other news, insider Arnaud Genis sold 21,544 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $65.44, for a total value of $1,409,839.36. Following the sale, the insider now directly owns 80,143 shares in the company, valued at approximately $5,244,557.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Mcmonagle sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $64.60, for a total transaction of $129,200.00. Following the completion of the sale, the director now owns 50,906 shares in the company, valued at $3,288,527.60. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Meridian Wealth Management LLC purchased a new stake in shares of Owens Corning during the second quarter worth $227,000. Personal Capital Advisors Corp raised its stake in shares of Owens Corning by 3,560.8% in the second quarter. Personal Capital Advisors Corp now owns 136,510 shares of the construction company’s stock worth $9,135,000 after buying an additional 132,781 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Owens Corning by 8.9% in the second quarter. Boston Advisors LLC now owns 65,714 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,358 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in shares of Owens Corning by 27.3% in the second quarter. Wellington Shields Capital Management LLC now owns 10,250 shares of the construction company’s stock worth $686,000 after buying an additional 2,200 shares during the last quarter. Finally, Breton Hill Capital Ltd. raised its stake in shares of Owens Corning by 34.7% in the second quarter. Breton Hill Capital Ltd. now owns 22,473 shares of the construction company’s stock worth $1,504,000 after buying an additional 5,786 shares during the last quarter.

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Several brokerages have issued reports on OC. BidaskClub raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. KeyCorp reissued an “overweight” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Owens Corning in a research note on Monday, June 26th. Northcoast Research set a $76.00 price objective on shares of Owens Corning and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Credit Suisse Group began coverage on shares of Owens Corning in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. Owens Corning currently has a consensus rating of “Buy” and a consensus price target of $66.80.

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.

Earnings History for Owens Corning (NYSE:OC)

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