Quest Partners LLC Buys Shares of 3,923 Owens Corning (NYSE:OC)

Quest Partners LLC bought a new stake in Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,923 shares of the construction company’s stock, valued at approximately $582,000.

Several other large investors also recently added to or reduced their stakes in OC. Fifth Third Bancorp grew its holdings in shares of Owens Corning by 30.1% during the 3rd quarter. Fifth Third Bancorp now owns 829 shares of the construction company’s stock worth $113,000 after purchasing an additional 192 shares during the period. California Public Employees Retirement System grew its holdings in shares of Owens Corning by 4.7% during the 3rd quarter. California Public Employees Retirement System now owns 194,842 shares of the construction company’s stock worth $26,578,000 after purchasing an additional 8,686 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Owens Corning by 23.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,890 shares of the construction company’s stock worth $394,000 after purchasing an additional 553 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Owens Corning during the 3rd quarter worth $215,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Owens Corning during the 3rd quarter worth $1,204,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OC shares. Royal Bank of Canada increased their price target on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial increased their target price on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Jefferies Financial Group started coverage on Owens Corning in a research note on Wednesday. They set a “buy” rating and a $215.00 target price on the stock. Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Finally, Evercore ISI increased their target price on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research note on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.07.

Owens Corning Trading Down 0.5 %

OC opened at $177.53 on Thursday. Owens Corning has a one year low of $105.56 and a one year high of $181.49. The company has a market cap of $15.38 billion, a P/E ratio of 14.37, a PEG ratio of 5.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The business’s 50-day simple moving average is $168.78 and its 200-day simple moving average is $153.18.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business posted $2.77 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities research analysts expect that Owens Corning will post 15.76 EPS for the current fiscal year.

Insider Activity

In related news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company’s stock.

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.