Fiduciary Financial Group LLC Takes Position in Owens Corning (NYSE:OC)

Fiduciary Financial Group LLC purchased a new stake in shares of Owens Corning (NYSE:OC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,807 shares of the construction company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OC. Nordea Investment Management AB increased its position in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after purchasing an additional 533,910 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the last quarter. Pacer Advisors Inc. raised its position in Owens Corning by 38.9% in the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after acquiring an additional 446,073 shares during the period. Panagora Asset Management Inc. boosted its stake in Owens Corning by 2,813.6% in the second quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock valued at $65,815,000 after acquiring an additional 365,853 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Owens Corning during the 1st quarter valued at approximately $60,424,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares of the company’s stock, valued at $10,222,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $180.45 on Friday. The firm has a market capitalization of $15.69 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.62 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91. The stock’s 50-day simple moving average is $167.02 and its two-hundred day simple moving average is $171.20. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13.

Owens Corning (NYSE:OC) last announced its earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $4.22 earnings per share. Owens Corning’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, October 18th. Owens Corning’s dividend payout ratio is currently 20.32%.

Analyst Ratings Changes

Several equities analysts recently commented on OC shares. Barclays dropped their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Evercore ISI decreased their price objective on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. Wells Fargo & Company boosted their price target on shares of Owens Corning from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $186.69.

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.