Dumont & Blake Investment Advisors LLC Increases Stock Position in Owens Corning Inc $OC

Dumont & Blake Investment Advisors LLC increased its position in Owens Corning Inc (NYSE:OC) by 221.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,683 shares of the construction company’s stock after buying an additional 5,980 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Owens Corning were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boothbay Fund Management LLC grew its position in Owens Corning by 130.5% in the third quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company’s stock valued at $11,500,000 after acquiring an additional 46,022 shares in the last quarter. Banque Pictet & Cie SA increased its stake in shares of Owens Corning by 5.0% in the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after buying an additional 19,553 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Owens Corning by 178.2% in the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after purchasing an additional 119,566 shares during the last quarter. Interval Partners LP grew its position in shares of Owens Corning by 365.8% during the 3rd quarter. Interval Partners LP now owns 184,513 shares of the construction company’s stock valued at $26,101,000 after buying an additional 144,897 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Owens Corning in the 1st quarter worth about $2,576,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OC. Bank of America lowered their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. The Goldman Sachs Group increased their target price on Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Barclays lifted their price target on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $150.58.

Insider Activity at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

OC stock opened at $146.63 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of -22.18, a P/E/G ratio of 2.74 and a beta of 1.30. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The firm has a 50 day moving average of $125.68 and a two-hundred day moving average of $120.70.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm earned $2.97 EPS. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.