Moran Wealth Management LLC Purchases 534 Shares of Owens Corning (NYSE:OC)

Moran Wealth Management LLC raised its holdings in Owens Corning (NYSE:OC) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,547 shares of the construction company’s stock after buying an additional 534 shares during the quarter. Moran Wealth Management LLC owned 0.12% of Owens Corning worth $18,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Retirement Guys Formula LLC increased its stake in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after purchasing an additional 58 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the last quarter. Tobam raised its holdings in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. First Bank & Trust raised its stake 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 acquiring an additional 73 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Owens Corning by 24.9% during the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the topic of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted 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. Wells Fargo & Company lifted their price objective on Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Trading Down 0.8 %

NYSE:OC traded down $1.48 during trading hours on Wednesday, hitting $192.61. The company had a trading volume of 80,562 shares, compared to its average volume of 684,854. The company has a market capitalization of $16.52 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 52 week low of $129.24 and a 52 week high of $199.54. The stock has a 50-day moving average price of $180.62 and a 200 day moving average price of $174.93.

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 analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm earned $4.15 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities research analysts predict that Owens Corning will post 15.39 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, October 18th. Owens Corning’s payout ratio is 20.43%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

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.