LSV Asset Management Increases Stock Position in Owens Corning (NYSE:OC)

LSV Asset Management lifted its holdings in Owens Corning (NYSE:OC) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,272,150 shares of the construction company’s stock after purchasing an additional 15,714 shares during the quarter. LSV Asset Management owned 2.56% of Owens Corning worth $336,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Owens Corning during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning during the fourth quarter valued at approximately $27,000. VisionPoint Advisory Group LLC boosted its holdings in Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after purchasing an additional 88 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Owens Corning in the 3rd quarter worth approximately $36,000. Finally, Blue Trust Inc. raised its stake in Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after buying an additional 78 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

OC traded up $1.67 during trading hours on Friday, hitting $174.81. The company’s stock had a trading volume of 680,615 shares, compared to its average volume of 636,508. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 5.24 and a beta of 1.45. The business’s 50-day moving average price is $162.66 and its 200-day moving average price is $147.85. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. Owens Corning has a 12 month low of $103.41 and a 12 month high of $178.24.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $2.77 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.37 earnings per share for the current fiscal year.

Insider Transactions at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,307,878. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,864 shares of company stock worth $1,819,471. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on OC shares. JPMorgan Chase & Co. cut their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Evercore ISI upped their price target on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday, April 25th. Argus increased their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Citigroup boosted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Loop Capital upped their target price on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average 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.