Owens Corning Inc $OC Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC grew its stake in shares of Owens Corning Inc (NYSE:OC) by 44.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 59,928 shares of the construction company’s stock after purchasing an additional 18,471 shares during the period. Moran Wealth Management LLC’s holdings in Owens Corning were worth $6,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pitcairn Co. raised its position in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after purchasing an additional 80 shares during the last quarter. Archer Investment Corp raised its position in shares of Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock worth $106,000 after purchasing an additional 88 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of Owens Corning by 2.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after purchasing an additional 104 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Owens Corning by 7.2% during the 3rd quarter. Park Avenue Securities LLC now owns 1,652 shares of the construction company’s stock worth $234,000 after purchasing an additional 111 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Owens Corning by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 117 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Up 4.1%

Shares of OC opened at $122.65 on Friday. The stock has a fifty day moving average of $116.28 and a two-hundred day moving average of $117.81. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The company has a market capitalization of $9.86 billion, a PE ratio of -19.16, a price-to-earnings-growth ratio of 2.02 and a beta of 1.35. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.26). The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The company’s revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 earnings per share. As a group, analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 9th were issued a $0.79 dividend. The ex-dividend date was Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 2.6%. Owens Corning’s payout ratio is -49.38%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OC shares. Citigroup cut their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company lifted their price objective on Owens Corning from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Argus upgraded Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays cut their price objective on Owens Corning from $138.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.64.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.