Kestra Private Wealth Services LLC Buys 9,605 Shares of Owens Corning Inc $OC

Key Points

• Kestra Private Wealth Services LLC increased its stake in Owens Corning by 33.2%, purchasing 9,605 shares to hold 38,499 shares worth about $4.31 million at the end of the quarter.
• Owens Corning posted a quarterly EPS of $1.10, missing estimates by $0.26, with revenue down 16.8% year-over-year and a negative net margin of 5.17%, indicating near-term earnings pressure.
• Analysts have a consensus rating of Moderate Buy with an average target of $145.09; the stock traded around $124.10 and broker targets range roughly from $125 to $172.

Kestra Private Wealth Services LLC increased its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,499 shares of the construction company's stock after purchasing an additional 9,605 shares during the period. Kestra Private Wealth Services LLC's holdings in Owens Corning were worth $4,308,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $37,000. Root Financial Partners LLC bought a new stake in shares of Owens Corning in the third quarter valued at $39,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Owens Corning in the third quarter valued at $42,000. SJS Investment Consulting Inc. grew its position in shares of Owens Corning by 3,766.7% in the third quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company's stock valued at $49,000 after purchasing an additional 339 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Wall Street Analyst Weigh In

OC has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Owens Corning from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Citigroup lowered their target price on Owens Corning from $137.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. UBS Group upped their price target on Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Evercore set a $130.00 price target on Owens Corning in a research report on Friday. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Owens Corning in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $145.09.

Owens Corning Trading Down 1.1%

OC opened at $124.10 on Wednesday. The firm has a market cap of $9.98 billion, a P/E ratio of -19.39, a P/E/G ratio of 2.13 and a beta of 1.35. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average of $114.68 and a 200 day moving average of $117.15.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the firm earned $3.22 EPS. The firm's quarterly revenue was down 16.8% on a year-over-year basis. As a group, research analysts forecast that Owens Corning Inc will post 9.45 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. Owens Corning's dividend payout ratio is presently -49.38%.

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.

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