Owens Corning Inc $OC Shares Purchased by Moran Wealth Management LLC

Key Points

• Moran Wealth Management boosted its stake in Owens Corning by 44.6% in Q4 to 59,928 shares (worth $6.707M), while other institutions — notably JPMorgan, which nearly doubled to 911,334 shares — helped push institutional ownership to 88.40%.
• Owens Corning reported a Q4 earnings miss (EPS $1.10 vs. $1.36 est.) with revenue of $2.14B (down 16.8% YoY) and a negative net margin of 5.17%.
• The company pays a quarterly dividend of $0.79 ($3.16 annualized, ~2.6% yield), and analysts hold a consensus of "Moderate Buy" with an average price target of $146.64.

Moran Wealth Management LLC boosted its stake in Owens Corning Inc (NYSE:OC - Free Report) by 44.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,928 shares of the construction company's stock after acquiring an additional 18,471 shares during the period. Moran Wealth Management LLC owned 0.07% of Owens Corning worth $6,707,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OC. Ashton Thomas Private Wealth LLC boosted its holdings in Owens Corning by 231.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company's stock valued at $6,909,000 after purchasing an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company's stock valued at $128,917,000 after purchasing an additional 454,382 shares in the last quarter. Caprock Group LLC purchased a new stake in Owens Corning in the 3rd quarter valued at approximately $1,742,000. Rakuten Investment Management Inc. purchased a new stake in Owens Corning in the 3rd quarter valued at approximately $8,135,000. Finally, National Pension Service boosted its holdings in Owens Corning by 25.5% in the 3rd quarter. National Pension Service now owns 95,495 shares of the construction company's stock valued at $13,509,000 after purchasing an additional 19,375 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Price Performance

OC stock opened at $122.65 on Friday. The firm has a 50 day moving average of $116.28 and a 200-day moving average of $117.81. 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 company has a market cap of $9.86 billion, a price-to-earnings ratio of -19.16, a PEG ratio of 2.02 and a beta of 1.35.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business posted $3.22 earnings per share. Owens Corning's revenue was down 16.8% on a year-over-year basis. As a group, equities analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, March 9th. Owens Corning's dividend payout ratio (DPR) is presently -49.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Owens Corning from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday. Argus raised Owens Corning to a "strong-buy" rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Owens Corning in a report on Friday, March 27th. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a report on Friday, January 9th. Finally, Citigroup lowered their price objective on Owens Corning from $137.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $146.64.

Owens Corning Company 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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