Owens Corning Inc (NYSE:OC) Stock Holdings Raised by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 31.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 140,568 shares of the construction company's stock after buying an additional 33,631 shares during the period. Moran Wealth Management LLC owned 0.16% of Owens Corning worth $20,076,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OC. Price T Rowe Associates Inc. MD increased its stake in shares of Owens Corning by 41.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after acquiring an additional 414,770 shares during the last quarter. Norges Bank purchased a new stake in Owens Corning in the fourth quarter valued at approximately $208,519,000. Northern Trust Corp increased its position in Owens Corning by 27.4% during the fourth quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock worth $164,335,000 after purchasing an additional 207,677 shares during the last quarter. First Trust Advisors LP raised its stake in Owens Corning by 20.7% during the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock worth $126,849,000 after purchasing an additional 127,785 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Owens Corning by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 739,669 shares of the construction company's stock valued at $125,980,000 after purchasing an additional 12,394 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Stock Up 2.0%

Shares of OC traded up $2.76 during mid-day trading on Tuesday, reaching $138.20. 889,961 shares of the stock traded hands, compared to its average volume of 970,768. The stock has a fifty day simple moving average of $138.08 and a 200 day simple moving average of $155.41. Owens Corning Inc has a 12-month low of $123.40 and a 12-month high of $214.53. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.02. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 48.66, a P/E/G ratio of 3.48 and a beta of 1.34.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 2.28% and a return on equity of 25.03%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm posted $3.40 EPS. The firm's quarterly revenue was up 25.4% on a year-over-year basis. Sell-side analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning declared that its board has approved a stock buyback plan on Wednesday, May 14th that allows the company to buyback 12,000,000 shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, July 21st. Owens Corning's dividend payout ratio is currently 97.18%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays dropped their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Loop Capital dropped their price target on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada reduced their price objective on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. UBS Group decreased their target price on Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Evercore ISI set a $165.00 price target on shares of Owens Corning in a report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $183.80.

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.