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

MorganRosel Wealth Management LLC trimmed its position in Owens Corning (NYSE:OC) by 26.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,242 shares of the construction company’s stock after selling 2,238 shares during the period. MorganRosel Wealth Management LLC’s holdings in Owens Corning were worth $1,041,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its position in shares of Owens Corning by 23.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 2,165 shares of the construction company’s stock worth $295,000 after purchasing an additional 406 shares during the period. LPL Financial LLC lifted its position in Owens Corning by 12.1% during the 3rd quarter. LPL Financial LLC now owns 103,138 shares of the construction company’s stock worth $14,069,000 after acquiring an additional 11,097 shares during the period. Mariner LLC raised its position in Owens Corning by 4.3% during the 3rd quarter. Mariner LLC now owns 4,335 shares of the construction company’s stock worth $591,000 after buying an additional 179 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Owens Corning by 11.2% in the third quarter. Natixis Advisors L.P. now owns 15,949 shares of the construction company’s stock valued at $2,176,000 after purchasing an additional 1,611 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Owens Corning by 5.6% during the 3rd quarter. Treasurer of the State of North Carolina now owns 43,414 shares of the construction company’s stock worth $5,922,000 after acquiring an additional 2,293 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Up 1.1 %

Shares of OC opened at $173.72 on Monday. The company has a 50-day simple moving average of $175.48 and a 200-day simple moving average of $161.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The firm has a market capitalization of $15.05 billion, a P/E ratio of 14.07, a P/E/G ratio of 5.17 and a beta of 1.42. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business earned $2.77 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts expect that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, July 15th. Owens Corning’s dividend payout ratio is presently 19.43%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the transaction, the insider now owns 62,895 shares of the company’s stock, valued at approximately $11,195,310. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Owens Corning news, VP Mari Doerfler sold 240 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the sale, the vice president now directly owns 4,954 shares in the company, valued at $901,875.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marcio A. Sandri sold 9,697 shares of Owens Corning stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total value of $1,726,066.00. Following the completion of the transaction, the insider now owns 62,895 shares in the company, valued at approximately $11,195,310. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,360 shares of company stock worth $2,916,365. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OC has been the topic of a number of analyst reports. Citigroup increased their target price on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada lifted their price objective on Owens Corning from $192.00 to $201.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Evercore ISI boosted their target price on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.00.

Owens Corning Company 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.