First Trust Advisors LP Has $126.85 Million Holdings in Owens Corning (NYSE:OC)

First Trust Advisors LP lifted its stake in Owens Corning (NYSE:OC) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 744,771 shares of the construction company’s stock after acquiring an additional 127,785 shares during the period. First Trust Advisors LP owned approximately 0.87% of Owens Corning worth $126,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in Owens Corning by 23.3% in the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock valued at $22,197,000 after acquiring an additional 23,787 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Owens Corning in the third quarter valued at $23,002,000. Synovus Financial Corp bought a new position in Owens Corning in the third quarter worth $337,000. Franklin Resources Inc. boosted its stake in Owens Corning by 5.3% during the third quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company’s stock worth $83,381,000 after buying an additional 22,500 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after buying an additional 5,916 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a report on Tuesday, April 1st. They set a “buy” rating and a $183.00 price objective on the stock. Wells Fargo & Company dropped their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Loop Capital dropped their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $194.58.

Owens Corning Stock Up 1.0 %

Shares of NYSE:OC opened at $137.98 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53. The company’s 50-day moving average price is $148.43 and its two-hundred day moving average price is $172.23.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 earnings per share. As a group, research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.00%. Owens Corning’s payout ratio is currently 37.70%.

About Owens Corning

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.