Moran Wealth Management LLC Boosts Stake in Owens Corning (NYSE:OC)

Moran Wealth Management LLC increased its stake in Owens Corning (NYSE:OC) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,937 shares of the construction company’s stock after acquiring an additional 390 shares during the period. Moran Wealth Management LLC owned about 0.12% of Owens Corning worth $18,214,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Owens Corning by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock worth $109,091,000 after acquiring an additional 16,958 shares in the last quarter. Ruffer LLP bought a new position in Owens Corning during the 4th quarter valued at approximately $5,236,000. PNC Financial Services Group Inc. raised its stake in Owens Corning by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the construction company’s stock valued at $1,054,000 after buying an additional 327 shares during the last quarter. Jackson Creek Investment Advisors LLC boosted its holdings in Owens Corning by 4.2% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,420 shares of the construction company’s stock worth $923,000 after acquiring an additional 220 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Owens Corning by 13.4% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 14,234 shares of the construction company’s stock worth $2,424,000 after acquiring an additional 1,679 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.7 %

Shares of NYSE:OC opened at $144.54 on Monday. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $140.94 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $172.91 and a 200 day moving average price of $178.38.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company earned $3.21 EPS. As a group, equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada dropped their price objective on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup lowered their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale 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 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 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 position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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.