LSV Asset Management Acquires 14,109 Shares of Owens Corning Inc $OC

LSV Asset Management increased its holdings in shares of Owens Corning Inc (NYSE:OC) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,463,671 shares of the construction company’s stock after purchasing an additional 14,109 shares during the period. LSV Asset Management’s holdings in Owens Corning were worth $163,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning during the 4th quarter worth $37,000. Root Financial Partners LLC bought a new position in Owens Corning in the third quarter valued at about $39,000. Measured Wealth Private Client Group LLC bought a new position in Owens Corning in the third quarter valued at about $42,000. Global Retirement Partners LLC raised its position in Owens Corning by 1,173.3% in the fourth quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock valued at $43,000 after purchasing an additional 352 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Owens Corning in the fourth quarter valued at about $49,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the transaction, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on OC shares. JPMorgan Chase & Co. increased their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. UBS Group increased their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Truist Financial increased their target price on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their target price on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their target price on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.

Owens Corning Price Performance

Shares of OC opened at $117.53 on Friday. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -17.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The business has a 50-day moving average of $114.29 and a 200-day moving average of $116.24.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $2.97 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current year.

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.