Team Hewins LLC Makes New Investment in Owens Corning (NYSE:OC)

Team Hewins LLC bought a new position in shares of Owens Corning (NYSE:OC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,406 shares of the construction company’s stock, valued at approximately $357,000.

Several other large investors also recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning in the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its position 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 purchasing an additional 88 shares in the last quarter. Blue Trust Inc. grew its position in shares of Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after buying an additional 78 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Owens Corning by 26,700.0% during the fourth quarter. Assetmark Inc. now owns 268 shares of the construction company’s stock valued at $40,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE OC traded up $4.68 during mid-day trading on Friday, hitting $181.35. The stock had a trading volume of 603,622 shares, compared to its average volume of 570,428. The company has a 50 day moving average of $169.59 and a two-hundred day moving average of $153.76. Owens Corning has a twelve month low of $105.56 and a twelve month high of $181.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The firm has a market cap of $15.72 billion, a PE ratio of 14.68, a PEG ratio of 5.26 and a beta of 1.45.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.77 earnings per share. Research analysts predict that Owens Corning will post 15.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OC. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. Truist Financial lifted their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Citigroup increased their target price on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on Owens Corning in a report on Wednesday. They issued a “buy” rating and a $215.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.07.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of Owens Corning stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the sale, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning 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.