Forum Financial Management LP Sells 101 Shares of Owens Corning (NYSE:OC)

Forum Financial Management LP lessened its holdings in Owens Corning (NYSE:OC) by 3.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,534 shares of the construction company’s stock after selling 101 shares during the quarter. Forum Financial Management LP’s holdings in Owens Corning were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of OC. Stratos Wealth Partners LTD. grew its stake in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after purchasing an additional 53 shares in the last quarter. Greenleaf Trust grew its position in shares of Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after buying an additional 56 shares in the last quarter. Retirement Guys Formula LLC increased its stake in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after buying an additional 60 shares during the period. IFP Advisors Inc raised its holdings in shares of Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of several recent research reports. UBS Group reduced their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.58.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $137.98 on Monday. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The company has a market cap of $11.80 billion, a PE ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. 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 business has a 50-day simple moving average of $148.43 and a two-hundred day simple moving average of $172.23.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the business earned $3.21 EPS. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect 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 was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

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.