FPC Investment Advisory Inc. Takes Position in Owens Corning (NYSE:OC)

FPC Investment Advisory Inc. acquired a new stake in Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 154 shares of the construction company’s stock, valued at approximately $28,000.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Owens Corning during the 3rd quarter worth approximately $38,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $50,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Trading Down 4.0 %

Shares of NYSE:OC opened at $165.25 on Friday. Owens Corning has a 12-month low of $143.50 and a 12-month high of $214.53. The business’s fifty day simple moving average is $177.43 and its 200-day simple moving average is $178.78. The company has a market capitalization of $14.17 billion, a PE ratio of 14.06, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. 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 1.67%. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OC. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. UBS Group raised their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.30.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning 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.