Fieldview Capital Management LLC Raises Holdings in Owens Corning Inc $OC

Fieldview Capital Management LLC lifted its holdings in shares of Owens Corning Inc (NYSE:OC) by 146.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,072 shares of the construction company’s stock after buying an additional 4,793 shares during the quarter. Fieldview Capital Management LLC’s holdings in Owens Corning were worth $903,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Pitcairn Co. boosted its stake in shares of Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares during the period. Viawealth LLC boosted its stake in shares of Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after buying an additional 88 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Owens Corning by 2.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after buying an additional 104 shares during the period. Lido Advisors LLC boosted its stake in shares of Owens Corning by 6.4% during the fourth quarter. Lido Advisors LLC now owns 1,904 shares of the construction company’s stock worth $213,000 after buying an additional 115 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of Owens Corning by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company’s stock worth $1,626,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE:OC opened at $121.43 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The company has a market cap of $9.78 billion, a P/E ratio of -18.37, a PEG ratio of 2.20 and a beta of 1.34. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The company has a 50-day moving average price of $118.75 and a 200 day moving average price of $117.97.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America decreased their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Weiss Ratings downgraded shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Evercore set a $139.00 target price on shares of Owens Corning in a research note on Thursday, May 7th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group increased their target price on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.