Farther Finance Advisors LLC Reduces Stake in Owens Corning (NYSE:OC)

Farther Finance Advisors LLC lowered its position in Owens Corning (NYSE:OC) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,175 shares of the construction company’s stock after selling 511 shares during the quarter. Farther Finance Advisors LLC’s holdings in Owens Corning were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of OC. CIBC Asset Management Inc increased its position in shares of Owens Corning by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 3,513 shares of the construction company’s stock valued at $620,000 after purchasing an additional 162 shares during the last quarter. Natixis Advisors LLC increased its holdings in Owens Corning by 1.9% during the third quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock valued at $3,160,000 after buying an additional 339 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Owens Corning by 15.0% in the third quarter. Thrivent Financial for Lutherans now owns 231,352 shares of the construction company’s stock worth $40,838,000 after acquiring an additional 30,192 shares during the period. Quest Partners LLC boosted its stake in shares of Owens Corning by 67.7% during the 3rd quarter. Quest Partners LLC now owns 8,940 shares of the construction company’s stock worth $1,578,000 after acquiring an additional 3,608 shares during the last quarter. Finally, Lindenwold Advisors INC increased its stake in shares of Owens Corning by 3.2% in the 3rd quarter. Lindenwold Advisors INC now owns 3,168 shares of the construction company’s stock worth $559,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE OC opened at $145.11 on Tuesday. The company 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 has a 52-week low of $137.50 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm’s fifty day moving average is $169.45 and its two-hundred day moving average is $177.28.

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

Owens Corning Announces Dividend

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

Insider Activity at Owens Corning

In other 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 sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OC shares. JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

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.