Farther Finance Advisors LLC Sells 264 Shares of Owens Corning Inc $OC

Farther Finance Advisors LLC reduced its position in shares of Owens Corning Inc (NYSE:OC) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,555 shares of the construction company’s stock after selling 264 shares during the period. Farther Finance Advisors LLC’s holdings in Owens Corning were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OC. Bangor Savings Bank bought a new stake in Owens Corning in the 2nd quarter valued at $28,000. Wayfinding Financial LLC bought a new stake in Owens Corning in the 1st quarter valued at $60,000. Geneos Wealth Management Inc. boosted its holdings in Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after purchasing an additional 184 shares during the period. Archer Investment Corp boosted its holdings in Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after purchasing an additional 100 shares during the period. Finally, Quarry LP boosted its holdings in Owens Corning by 36.0% in the 1st quarter. Quarry LP now owns 676 shares of the construction company’s stock valued at $97,000 after purchasing an additional 179 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

OC has been the subject of a number of research reports. Royal Bank Of Canada reduced their price target on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Evercore ISI raised their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Wells Fargo & Company raised their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Barclays raised their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, UBS Group reduced their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.10.

Owens Corning Trading Down 1.4%

OC opened at $141.10 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $11.80 billion, a PE ratio of 36.65, a PEG ratio of 10.14 and a beta of 1.32. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53. The firm has a 50-day moving average price of $147.75 and a two-hundred day moving average price of $142.58.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.41. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.64 EPS. As a group, equities analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

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.