M&G Investment Management Ltd. Buys 4,758 Shares of Owens Corning (NYSE:OC)

M&G Investment Management Ltd. increased its stake in shares of Owens Corning (NYSE:OC) by 7.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 66,259 shares of the construction company’s stock after purchasing an additional 4,758 shares during the quarter. M&G Investment Management Ltd.’s holdings in Owens Corning were worth $6,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Acadian Asset Management LLC grew its position in Owens Corning by 51.1% during the 1st quarter. Acadian Asset Management LLC now owns 500 shares of the construction company’s stock worth $46,000 after acquiring an additional 169 shares during the last quarter. Signaturefd LLC grew its position in Owens Corning by 36.4% during the 4th quarter. Signaturefd LLC now owns 660 shares of the construction company’s stock worth $50,000 after acquiring an additional 176 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Owens Corning by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 55,609 shares of the construction company’s stock worth $4,213,000 after acquiring an additional 190 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Owens Corning by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the construction company’s stock worth $2,514,000 after buying an additional 200 shares during the last quarter. Finally, Spearhead Capital Advisors LLC grew its position in shares of Owens Corning by 4.2% in the 1st quarter. Spearhead Capital Advisors LLC now owns 5,255 shares of the construction company’s stock worth $484,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Truist lifted their price objective on Owens Corning from $95.00 to $101.00 in a research report on Tuesday, March 16th. Northcoast Research reiterated a “neutral” rating on shares of Owens Corning in a research report on Wednesday, April 21st. Jefferies Financial Group lifted their price objective on Owens Corning from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Credit Suisse Group lifted their price objective on Owens Corning from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, February 18th. Finally, Royal Bank of Canada lifted their price objective on Owens Corning from $88.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Owens Corning has an average rating of “Hold” and an average target price of $85.06.

Shares of NYSE:OC opened at $98.98 on Friday. The company’s fifty day moving average is $100.86. The stock has a market capitalization of $10.34 billion, a PE ratio of 14.41 and a beta of 1.55. Owens Corning has a 12-month low of $50.42 and a 12-month high of $109.89. The company has a quick ratio of 1.28, a current ratio of 1.87 and a debt-to-equity ratio of 0.79.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 28th. The construction company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.31. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Owens Corning had a return on equity of 17.38% and a net margin of 10.10%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Sell-side analysts predict that Owens Corning will post 8.04 EPS for the current fiscal year.

In other news, EVP Daniel T. Smith sold 10,341 shares of the business’s stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $95.00, for a total value of $982,395.00. Following the completion of the transaction, the executive vice president now owns 48,139 shares in the company, valued at $4,573,205. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 12,000 shares of the business’s stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $97.02, for a total value of $1,164,240.00. Following the completion of the transaction, the insider now owns 35,531 shares of the company’s stock, valued at approximately $3,447,217.62. The disclosure for this sale can be found here. Insiders have sold 31,866 shares of company stock valued at $3,028,841 in the last quarter. 0.72% of the stock is owned by company insiders.

Owens Corning Profile

Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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