Captrust Financial Advisors Raises Stock Position in Owens Corning (NYSE:OC)

Captrust Financial Advisors lifted its holdings in Owens Corning (NYSE:OC) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,828 shares of the construction company’s stock after acquiring an additional 7,715 shares during the period. Captrust Financial Advisors’ holdings in Owens Corning were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OC. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the 4th quarter worth $28,000. Venturi Wealth Management LLC boosted its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning during the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB increased its stake in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the 4th quarter valued at approximately $34,000. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OC. Wells Fargo & Company decreased their price target on shares of Owens Corning from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. Wolfe Research raised shares of Owens Corning from a “peer perform” rating to an “outperform” rating in a report on Friday. Royal Bank of Canada reduced their price objective on Owens Corning from $199.00 to $184.00 and set an “outperform” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price objective for the company. Finally, Barclays cut their target price on Owens Corning from $179.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.55.

Owens Corning Trading Up 0.7 %

Shares of OC opened at $136.43 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.44. The company has a 50-day moving average of $141.20 and a 200 day moving average of $168.00. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results 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. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 earnings per share. On average, research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Profile

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.