Man Group plc Sells 221,973 Shares of Owens Corning (NYSE:OC)

Man Group plc lowered its holdings in Owens Corning (NYSE:OC) by 32.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 452,823 shares of the construction company’s stock after selling 221,973 shares during the period. Man Group plc owned approximately 0.53% of Owens Corning worth $77,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OC. Barclays PLC raised its position in shares of Owens Corning by 23.3% in the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock valued at $22,197,000 after buying an additional 23,787 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Owens Corning by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,893 shares of the construction company’s stock valued at $1,217,000 after buying an additional 100 shares in the last quarter. Accurate Wealth Management LLC raised its position in shares of Owens Corning by 47.3% in the 4th quarter. Accurate Wealth Management LLC now owns 5,221 shares of the construction company’s stock valued at $875,000 after buying an additional 1,676 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Owens Corning by 31.6% in the 4th quarter. Park Avenue Securities LLC now owns 5,964 shares of the construction company’s stock valued at $1,016,000 after buying an additional 1,431 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its position in Owens Corning by 2.6% during the 4th quarter. Carolina Wealth Advisors LLC now owns 4,427 shares of the construction company’s stock worth $754,000 after purchasing an additional 113 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 0.4%

NYSE:OC opened at $142.64 on Wednesday. The firm’s fifty day moving average is $141.03 and its 200-day moving average is $167.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The firm has a market cap of $12.13 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $3.40 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OC shares. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays lowered their price objective on shares of Owens Corning from $179.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $199.00 to $184.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a report on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine 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 $188.55.

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.