FCG Investment Co Reduces Stock Holdings in Owens Corning Inc $OC

FCG Investment Co trimmed its position in Owens Corning Inc (NYSE:OC) by 21.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,884 shares of the construction company’s stock after selling 1,581 shares during the period. FCG Investment Co’s holdings in Owens Corning were worth $809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Owens Corning by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after buying an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Owens Corning by 67.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after buying an additional 957,295 shares in the last quarter. Nuveen LLC purchased a new position in shares of Owens Corning during the 1st quarter valued at about $91,698,000. Millennium Management LLC lifted its position in shares of Owens Corning by 179.0% during the 1st quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock valued at $123,287,000 after buying an additional 553,864 shares in the last quarter. Finally, 140 Summer Partners LP purchased a new position in shares of Owens Corning during the 1st quarter valued at about $46,869,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Down 2.4%

NYSE OC opened at $139.94 on Friday. The stock’s 50 day moving average is $147.64 and its 200 day moving average is $142.54. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53. The stock has a market cap of $11.70 billion, a PE ratio of 36.35, a P/E/G ratio of 10.15 and a beta of 1.32.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm earned $4.64 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Research analysts predict that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a yield of 2.0%. Owens Corning’s payout ratio is presently 71.69%.

Analyst Upgrades and Downgrades

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

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.