KMG Fiduciary Partners LLC Has $882,000 Stock Position in Owens Corning (NYSE:OC)

KMG Fiduciary Partners LLC lowered its position in shares of Owens Corning (NYSE:OC) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,178 shares of the construction company’s stock after selling 254 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Owens Corning were worth $882,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Retirement Guys Formula LLC grew its stake in Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC grew its position in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Tobam increased its stake in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after buying an additional 73 shares during the period. First Bank & Trust lifted its position in Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after buying an additional 73 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Owens Corning by 5.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,616 shares of the construction company’s stock valued at $285,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

OC has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Price Performance

NYSE OC opened at $182.86 on Friday. The stock has a market capitalization of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. The stock has a 50-day simple moving average of $186.08 and a 200 day simple moving average of $177.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.15 earnings per share. Research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, January 6th. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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.