FDx Advisors Inc. Has $380,000 Stock Holdings in Owens Corning (NYSE:OC)

FDx Advisors Inc. cut its stake in Owens Corning (NYSE:OC) by 71.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,278 shares of the construction company’s stock after selling 5,593 shares during the quarter. FDx Advisors Inc.’s holdings in Owens Corning were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. MV Capital Management Inc. raised its holdings in shares of Owens Corning by 112.9% during the 1st quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Owens Corning during the 1st quarter worth $26,000. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning during the 4th quarter worth $27,000. Finally, Riverview Trust Co acquired a new position in shares of Owens Corning during the 1st quarter worth $28,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group boosted their price target on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada boosted their price objective on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Barclays boosted their price objective on Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd. Finally, Argus raised their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Seven investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.57.

Owens Corning Stock Up 4.7 %

Shares of NYSE OC opened at $175.03 on Friday. The company’s 50 day moving average price is $175.51 and its 200-day moving average price is $162.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The company has a market capitalization of $15.17 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 4.98 and a beta of 1.42.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. Owens Corning’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.37%. Owens Corning’s payout ratio is 19.43%.

Insider Buying and Selling

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares in the company, valued at approximately $2,008,405.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders sold 19,360 shares of company stock valued at $3,437,315 over the last 90 days. Company insiders own 0.89% of the company’s stock.

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.