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

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

Several other large investors have also modified their holdings of OC. Retirement Guys Formula LLC lifted its holdings in 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 acquiring an additional 58 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after buying an additional 68 shares during the period. Tobam lifted its position in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after buying an additional 73 shares during the period. First Bank & Trust grew its holdings in shares of Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Owens Corning by 24.9% in 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 own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OC. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI increased their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.62.

Insider Activity at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 4.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Owens Corning Stock Down 0.8 %

Shares of Owens Corning stock traded down $1.48 during trading hours on Wednesday, reaching $192.61. The company’s stock 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 P/E ratio of 16.52, a P/E/G ratio of 2.18 and a beta of 1.41. 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 one year low of $129.24 and a one year high of $199.54. The stock’s fifty day simple moving average is $180.62 and its two-hundred day simple moving average is $174.93.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping 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 prior year, the firm posted $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Announces Dividend

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

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.