Gotham Asset Management LLC Buys 63,918 Shares of Owens Corning Inc $OC

Gotham Asset Management LLC boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 19.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 389,784 shares of the construction company’s stock after acquiring an additional 63,918 shares during the period. Gotham Asset Management LLC’s holdings in Owens Corning were worth $43,621,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Owens Corning during the 4th quarter worth $29,000. Harbour Investments Inc. increased its stake in Owens Corning by 66.5% during the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning during the 4th quarter worth $37,000. Measured Wealth Private Client Group LLC bought a new position in Owens Corning during the 3rd quarter worth $42,000. Finally, Global Retirement Partners LLC increased its stake in Owens Corning by 1,173.3% during the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after acquiring an additional 352 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 3.5%

Shares of OC opened at $123.88 on Thursday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The business’s fifty day moving average is $119.91 and its 200-day moving average is $118.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of -18.74, a PEG ratio of 2.33 and a beta of 1.34.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company posted $2.97 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OC. Barclays lifted their price target on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Truist Financial lifted their price target on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings lowered Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada lifted their price target on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.82.

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.