Aaron Wealth Advisors LLC Sells 7,675 Shares of Owens Corning Inc $OC

Aaron Wealth Advisors LLC reduced its stake in Owens Corning Inc (NYSE:OC) by 73.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,720 shares of the construction company’s stock after selling 7,675 shares during the period. Aaron Wealth Advisors LLC’s holdings in Owens Corning were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rexford Capital Inc. bought a new stake in shares of Owens Corning in the second quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Owens Corning during the second quarter valued at approximately $30,000. Root Financial Partners LLC acquired a new position in Owens Corning during the third quarter valued at approximately $39,000. Measured Wealth Private Client Group LLC acquired a new position in Owens Corning during the third quarter valued at approximately $42,000. Finally, SJS Investment Consulting Inc. raised its position in Owens Corning by 3,766.7% during 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. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the subject of several research analyst reports. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $155.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a research report on Friday, January 9th. Finally, UBS Group boosted their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.73.

Owens Corning Price Performance

OC stock opened at $114.30 on Friday. The stock has a market capitalization of $9.19 billion, a PE ratio of -17.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.35. The company’s 50-day moving average is $117.35 and its 200-day moving average is $118.78. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last released its quarterly earnings data 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 positive return on equity of 21.93% and a negative net margin of 5.17%.The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the company earned $3.22 EPS. Owens Corning’s revenue for the quarter was down 16.8% compared to the same quarter last year. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Monday, March 9th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 2.8%. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

About Owens Corning

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.