GAMMA Investing LLC Buys 362 Shares of Owens Corning (NYSE:OC)

GAMMA Investing LLC lifted its stake in Owens Corning (NYSE:OC) by 32.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,466 shares of the construction company’s stock after buying an additional 362 shares during the period. GAMMA Investing LLC’s holdings in Owens Corning were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Owens Corning during the fourth quarter worth $118,251,000. Nordea Investment Management AB lifted its stake in shares of Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares during the last quarter. Swedbank AB bought a new position in shares of Owens Corning in the 1st quarter valued at $60,424,000. Bank of Nova Scotia lifted its stake in shares of Owens Corning by 9,571.1% in the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after acquiring an additional 142,131 shares during the last quarter. Finally, Cincinnati Insurance Co. bought a new position in shares of Owens Corning in the 1st quarter valued at $21,684,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Down 1.7 %

Owens Corning stock traded down $2.79 during midday trading on Tuesday, reaching $161.56. The stock had a trading volume of 708,460 shares, compared to its average volume of 663,638. Owens Corning has a 12 month low of $109.95 and a 12 month high of $191.13. The company has a market capitalization of $14.00 billion, a P/E ratio of 13.32, a PEG ratio of 1.62 and a beta of 1.42. The company has a fifty day moving average price of $175.47 and a two-hundred day moving average price of $166.35. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 15th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.49%. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Owens Corning news, VP Mari Doerfler sold 240 shares of Owens Corning stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,360 shares of company stock worth $3,437,315. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. UBS Group increased their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Loop Capital increased their price target on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Jefferies Financial Group began coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target for the company. Barclays decreased their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Evercore ISI increased their price objective on Owens Corning from $172.00 to $188.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.92.

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.