Mach 1 Financial Group LLC Sells 3,311 Shares of Owens Corning (NYSE:OC)

Mach 1 Financial Group LLC reduced its position in Owens Corning (NYSE:OC) by 63.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,886 shares of the construction company’s stock after selling 3,311 shares during the period. Mach 1 Financial Group LLC’s holdings in Owens Corning were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of OC. Contravisory Investment Management Inc. bought a new position in Owens Corning in the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning during the fourth quarter valued at about $27,000. VisionPoint Advisory Group LLC lifted its stake in shares of Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after buying an additional 88 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Owens Corning in the 3rd quarter worth $36,000. Finally, Blue Trust Inc. raised its holdings in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after acquiring an additional 78 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the transaction, the insider now directly owns 37,587 shares in the company, valued at $5,764,342.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gunner Smith sold 657 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the sale, the insider now directly owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,572 shares of company stock worth $1,928,312. 0.89% of the stock is owned by insiders.

Owens Corning Price Performance

OC stock opened at $168.06 on Thursday. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 5.26 and a beta of 1.45. Owens Corning has a fifty-two week low of $103.41 and a fifty-two week high of $173.65. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $161.05 and a 200 day moving average price of $147.07.

Owens Corning (NYSE:OC) last posted 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 the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.77 EPS. Equities research analysts anticipate that Owens Corning will post 14.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OC. JPMorgan Chase & Co. decreased their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Argus raised their target price on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Truist Financial boosted their price target on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Finally, Evercore ISI raised their price objective on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Company 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.