Menard Financial Group LLC Purchases 80 Shares of Owens Corning (NYSE:OC)

Menard Financial Group LLC lifted its holdings in Owens Corning (NYSE:OC) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272 shares of the construction company’s stock after acquiring an additional 80 shares during the quarter. Menard Financial Group LLC’s holdings in Owens Corning were worth $387,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of OC. Truist Financial Corp raised its position in Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Allstate Corp acquired a new stake in shares of Owens Corning in the fourth quarter valued at $425,000. Integrated Quantitative Investments LLC bought a new position in shares of Owens Corning in the fourth quarter valued at about $349,000. Principal Financial Group Inc. raised its holdings in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock valued at $66,777,000 after buying an additional 184,552 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its position in Owens Corning by 1.0% during the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock worth $87,212,000 after buying an additional 5,167 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

Owens Corning stock opened at $133.92 on Tuesday. The firm has a market capitalization of $11.39 billion, a P/E ratio of 11.40, a PEG ratio of 1.88 and a beta of 1.44. The business has a 50-day moving average of $140.34 and a 200-day moving average of $164.49. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. 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 quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 earnings per share (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 firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $3.40 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase 12,000,000 shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OC shares. UBS Group dropped their target price on shares of Owens Corning from $235.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Wall Street Zen cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wolfe Research raised Owens Corning from a “peer perform” rating to an “outperform” rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price for the company. Finally, Loop Capital dropped their price objective on Owens Corning from $203.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $183.80.

About Owens Corning

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.