Trexquant Investment LP Purchases New Position in Owens Corning (NYSE:OC)

Trexquant Investment LP acquired a new position in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 27,397 shares of the construction company’s stock, valued at approximately $4,061,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lecap Asset Management Ltd. acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $1,791,000. Voss Capital LLC purchased a new stake in Owens Corning in the 4th quarter valued at approximately $5,929,000. Louisiana State Employees Retirement System purchased a new position in shares of Owens Corning during the 4th quarter worth approximately $3,706,000. Qsemble Capital Management LP acquired a new stake in shares of Owens Corning in the 4th quarter valued at approximately $738,000. Finally, QRG Capital Management Inc. grew its holdings in Owens Corning by 3.4% during the fourth quarter. QRG Capital Management Inc. now owns 13,244 shares of the construction company’s stock worth $1,963,000 after acquiring an additional 434 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on OC. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Evercore ISI increased their target price on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. UBS Group boosted their price target on Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Truist Financial increased their price objective on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada lifted their price objective on Owens Corning from $192.00 to $201.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $172.07.

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now directly owns 11,381 shares in the company, valued at $2,008,405.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Stock Down 0.5 %

Owens Corning stock opened at $176.60 on Friday. Owens Corning has a 52 week low of $105.56 and a 52 week high of $181.49. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 5.19 and a beta of 1.45. The company’s 50-day moving average price is $169.16 and its two-hundred day moving average price is $153.34. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

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

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.