First Trust Advisors LP Purchases 127,785 Shares of Owens Corning (NYSE:OC)

First Trust Advisors LP grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 744,771 shares of the construction company's stock after purchasing 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its stake in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust grew its stake in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after buying an additional 56 shares during the last quarter. Retirement Guys Formula LLC boosted its holdings in shares of Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock worth $341,000 after acquiring an additional 60 shares in the last quarter. IFP Advisors Inc grew its position in Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after acquiring an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Owens Corning Stock Down 0.0 %

Shares of NYSE:OC traded down $0.01 during midday trading on Friday, hitting $143.95. The stock had a trading volume of 871,310 shares, compared to its average volume of 807,348. The company has a market cap of $12.31 billion, a P/E ratio of 12.25, a PEG ratio of 1.88 and a beta of 1.39. 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 business's 50-day simple moving average is $145.23 and its 200-day simple moving average is $171.23. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter last year, the company posted $3.21 earnings per share. Owens Corning's quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.92%. Owens Corning's dividend payout ratio is currently 37.70%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OC. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company lowered their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada lowered their price objective on Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, UBS Group dropped their target price on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $194.58.

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.