MorganRosel Wealth Management LLC Boosts Stock Holdings in Owens Corning (NYSE:OC)

MorganRosel Wealth Management LLC boosted its stake in shares of Owens Corning (NYSE:OC) by 39.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,812 shares of the construction company’s stock after acquiring an additional 1,368 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Owens Corning were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of OC. FPC Investment Advisory Inc. bought a new position in Owens Corning in the 4th quarter worth $28,000. Venturi Wealth Management LLC raised its position in shares of 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 purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning in the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB increased its stake in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Owens Corning in the third quarter worth approximately $38,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OC shares. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.30.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Owens Corning Stock Down 1.7 %

Shares of OC stock opened at $162.63 on Tuesday. The company’s fifty day simple moving average is $176.97 and its two-hundred day simple moving average is $179.00. Owens Corning has a 52 week low of $145.50 and a 52 week high of $214.53. The stock has a market cap of $13.95 billion, a P/E ratio of 13.84, a PEG ratio of 1.88 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.77 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. Analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

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.