Owens Corning (NYSE:OC) Shares Acquired by Family Management Corp

Family Management Corp increased its position in shares of Owens Corning (NYSE:OC) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,389 shares of the construction company’s stock after purchasing an additional 524 shares during the period. Family Management Corp’s holdings in Owens Corning were worth $2,545,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position 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 worth $242,337,000 after acquiring an additional 414,770 shares in the last quarter. Norges Bank purchased a new stake in Owens Corning during the fourth quarter worth approximately $208,519,000. Northern Trust Corp boosted its holdings in Owens Corning by 27.4% in the fourth quarter. Northern Trust Corp now owns 964,861 shares of the construction company’s stock valued at $164,335,000 after purchasing an additional 207,677 shares in the last quarter. First Trust Advisors LP increased its stake in Owens Corning by 20.7% in the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company’s stock valued at $126,849,000 after purchasing an additional 127,785 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Owens Corning by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock worth $109,091,000 after purchasing an additional 16,958 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OC shares. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research report on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price on the stock. Barclays decreased their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.73.

Owens Corning Price Performance

Shares of NYSE OC opened at $130.42 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market cap of $11.16 billion, a PE ratio of 11.10, a P/E/G ratio of 1.88 and a beta of 1.44. The stock has a fifty day moving average price of $141.61 and a 200 day moving average price of $168.67. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.40 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning 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.