Farther Finance Advisors LLC Decreases Stock Holdings in Owens Corning (NYSE:OC)

Farther Finance Advisors LLC lowered its position in shares of Owens Corning (NYSE:OC) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,175 shares of the construction company’s stock after selling 511 shares during the period. Farther Finance Advisors LLC’s holdings in Owens Corning were worth $370,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB increased its stake in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the fourth quarter valued at approximately $34,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.8 %

NYSE OC opened at $145.11 on Tuesday. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average price is $169.45 and its 200-day moving average price is $177.28. The stock has a market cap of $12.41 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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 company had revenue of $2.84 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 EPS. As a group, equities analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.90%. Owens Corning’s payout ratio is currently 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OC shares. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $212.00 target price on shares of Owens Corning in a research note on Monday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

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.