FPC Investment Advisory Inc. Invests $28,000 in Owens Corning (NYSE:OC)

FPC Investment Advisory Inc. acquired a new position in Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 154 shares of the construction company’s stock, valued at approximately $28,000.

A number of other institutional investors have also recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its position in 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 period. Global Trust Asset Management LLC acquired a new stake in Owens Corning during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB lifted its position in 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 period. Brooklyn Investment Group acquired a new stake in Owens Corning during the 3rd quarter worth about $38,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Owens Corning during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. 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 Owens Corning stock opened at $165.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $143.50 and a twelve month high of $214.53. The business has a 50-day moving average price of $177.43 and a 200 day moving average price of $178.78. The firm has a market cap of $14.17 billion, a PE ratio of 14.06, a P/E/G ratio of 1.88 and a beta of 1.46.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.67%. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OC. The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $211.30.

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.