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

MorganRosel Wealth Management LLC lifted its position in shares of Owens Corning (NYSE:OC) by 39.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the 4th quarter worth about $28,000. Venturi Wealth Management LLC grew its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in Owens Corning in the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Owens Corning during the 3rd quarter worth about $38,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts recently commented on OC shares. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Loop Capital decreased their target price 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. Evercore ISI upped their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.30.

Owens Corning Stock Performance

Shares of OC stock opened at $162.63 on Tuesday. The company 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 firm has a fifty day moving average price of $176.97 and a 200 day moving average price of $179.00. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $145.50 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business posted $3.21 EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.70%. Owens Corning’s dividend payout ratio is presently 23.49%.

About Owens Corning

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.