Cambria Investment Management L.P. Invests $7.44 Million in Owens Corning (NYSE:OC)

Cambria Investment Management L.P. purchased a new position in shares of Owens Corning (NYSE:OC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 77,619 shares of the construction company's stock, valued at approximately $7,436,000. Cambria Investment Management L.P. owned 0.09% of Owens Corning as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OC. US Bancorp DE boosted its stake in Owens Corning by 4.0% in the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company's stock worth $595,000 after purchasing an additional 249 shares during the period. HighTower Advisors LLC raised its holdings in shares of Owens Corning by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company's stock valued at $238,000 after buying an additional 221 shares in the last quarter. Natixis Advisors L.P. increased its stake in Owens Corning by 24.9% in the 1st quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company's stock worth $1,237,000 after purchasing an additional 2,693 shares during the period. Bank of Montreal Can increased its stake in Owens Corning by 10.8% in the 1st quarter. Bank of Montreal Can now owns 19,987 shares of the construction company's stock worth $1,888,000 after purchasing an additional 1,952 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Owens Corning by 245.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company's stock worth $333,000 after purchasing an additional 2,592 shares during the period. Institutional investors own 93.43% of the company's stock.

In other news, EVP Daniel T. Smith sold 3,670 shares of the firm's stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $106.11, for a total transaction of $389,423.70. Following the sale, the executive vice president now owns 46,811 shares of the company's stock, valued at approximately $4,967,115.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Daniel T. Smith sold 3,670 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $106.11, for a total value of $389,423.70. Following the transaction, the executive vice president now owns 46,811 shares in the company, valued at approximately $4,967,115.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Howard Morris sold 1,033 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $141.63, for a total transaction of $146,303.79. Following the completion of the transaction, the director now owns 40,889 shares in the company, valued at approximately $5,791,109.07. The disclosure for this sale can be found here. Insiders have sold a total of 11,603 shares of company stock valued at $1,329,296 in the last 90 days. 0.89% of the stock is currently owned by insiders.

A number of equities analysts have commented on OC shares. Jefferies Financial Group lifted their price target on Owens Corning from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 13th. StockNews.com started coverage on Owens Corning in a research note on Sunday. They issued a "strong-buy" rating on the stock. Argus lifted their price target on Owens Corning from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, August 1st. Barclays lifted their price target on Owens Corning from $161.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, July 27th. Finally, Royal Bank of Canada upgraded Owens Corning from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $135.00 to $168.00 in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $140.92.

Read Our Latest Research Report on OC

Shares of NYSE:OC traded up $0.12 during midday trading on Tuesday, reaching $136.41. The company's stock had a trading volume of 74,883 shares, compared to its average volume of 856,382. Owens Corning has a 12-month low of $74.22 and a 12-month high of $143.70. The firm has a 50 day moving average of $133.02 and a 200-day moving average of $112.52. The firm has a market capitalization of $12.25 billion, a P/E ratio of 9.66, a PEG ratio of 1.28 and a beta of 1.48. The company has a quick ratio of 1.37, a current ratio of 2.07 and a debt-to-equity ratio of 0.60.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 EPS for the quarter, beating the consensus estimate of $3.25 by $0.97. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm posted $3.83 EPS. Owens Corning's revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Owens Corning will post 13.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Monday, July 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, July 14th. Owens Corning's payout ratio is presently 14.74%.

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Owens Corning, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Owens Corning wasn't on the list.

While Owens Corning currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.