Cynosure Group LLC Purchases New Shares in Owens Corning Inc $OC

Cynosure Group LLC purchased a new stake in shares of Owens Corning Inc (NYSE:OC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,594 shares of the construction company’s stock, valued at approximately $850,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after purchasing an additional 454,382 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Owens Corning by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company’s stock valued at $273,101,000 after purchasing an additional 110,452 shares during the period. Boothbay Fund Management LLC grew its position in shares of Owens Corning by 130.5% in the third quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company’s stock valued at $11,500,000 after purchasing an additional 46,022 shares during the period. Banque Pictet & Cie SA grew its position in shares of Owens Corning by 5.0% in the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock valued at $46,172,000 after purchasing an additional 19,553 shares during the period. Finally, Highland Peak Capital LLC acquired a new stake in shares of Owens Corning in the third quarter valued at about $31,959,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OC shares. Royal Bank Of Canada lifted their target price on shares of Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. UBS Group boosted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Truist Financial boosted their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. The Goldman Sachs Group boosted their price target on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $144.82.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning 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 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 SEC filing for this sale provides additional information. 0.92% of the stock is owned by insiders.

Owens Corning Price Performance

Shares of OC stock opened at $123.22 on Tuesday. 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 firm’s 50-day moving average is $119.10 and its two-hundred day moving average is $118.06. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The company has a market capitalization of $9.92 billion, a PE ratio of -18.64, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34.

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

Owens Corning Company Profile

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.