Owens Corning (NYSE:OC) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its stake in Owens Corning (NYSE:OC) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,937 shares of the construction company’s stock after purchasing an additional 390 shares during the quarter. Moran Wealth Management LLC’s holdings in Owens Corning were worth $18,214,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the fourth quarter valued at $28,000. Venturi Wealth Management LLC boosted its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its stake in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Barclays decreased their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % 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 OC opened at $144.54 on Monday. The stock’s fifty day moving average is $172.91 and its 200-day moving average is $178.38. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a one year low of $140.94 and a one year high of $214.53. 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 (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. Equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Owens Corning Company 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.