Moran Wealth Management LLC Acquires 3,597 Shares of Owens Corning Inc $OC

Moran Wealth Management LLC boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,525 shares of the construction company’s stock after acquiring an additional 3,597 shares during the quarter. Moran Wealth Management LLC owned approximately 0.08% of Owens Corning worth $6,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Owens Corning in the fourth quarter worth about $29,000. Harbour Investments Inc. increased its holdings in shares of Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after purchasing an additional 129 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning in the 4th quarter worth approximately $37,000. Measured Wealth Private Client Group LLC bought a new position in Owens Corning in the 3rd quarter worth approximately $42,000. Finally, Global Retirement Partners LLC lifted its holdings in Owens Corning by 1,173.3% during the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after buying an additional 352 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by insiders.

Owens Corning Trading Down 0.0%

NYSE OC opened at $151.01 on Friday. The stock has a 50-day simple moving average of $125.26 and a 200 day simple moving average of $120.43. The company has a market capitalization of $12.16 billion, a PE ratio of -22.85, a P/E/G ratio of 2.74 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 earnings per share. Research analysts forecast that Owens Corning Inc will post 9.53 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s payout ratio is currently -47.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OC shares. Royal Bank Of Canada lifted their target price on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. The Goldman Sachs Group raised their price target on Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company upped their target price on shares of Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Barclays raised their target price on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.58.

Owens Corning 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.