17,652 Shares in Owens Corning (NYSE:OC) Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP acquired a new stake in Owens Corning (NYSE:OCGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,652 shares of the construction company’s stock, valued at approximately $1,597,000.

Other large investors also recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in shares of Owens Corning in the fourth quarter worth $1,246,000. Sageworth Trust Co of South Dakota purchased a new position in shares of Owens Corning in the fourth quarter worth $33,000. UMB Bank N A MO purchased a new position in shares of Owens Corning in the fourth quarter worth $35,000. Confluence Wealth Services Inc. purchased a new position in shares of Owens Corning in the fourth quarter worth $41,000. Finally, CWM LLC purchased a new position in shares of Owens Corning in the fourth quarter worth $85,000. 92.55% of the stock is owned by hedge funds and other institutional investors.

OC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Owens Corning from a “buy” rating to a “hold” rating and set a $91.00 price objective on the stock. in a research report on Tuesday, April 19th. Barclays reduced their price objective on shares of Owens Corning from $111.00 to $100.00 in a research report on Thursday, April 28th. StockNews.com raised shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 2nd. Bank of America boosted their price objective on shares of Owens Corning from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, February 17th. Finally, Truist Financial downgraded shares of Owens Corning from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $85.00 in a research report on Tuesday, April 5th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Owens Corning has a consensus rating of “Buy” and an average price target of $108.75.

Shares of NYSE:OC traded down $3.93 during midday trading on Friday, reaching $89.64. The company’s stock had a trading volume of 1,135,984 shares, compared to its average volume of 891,328. The firm has a 50 day moving average of $91.34 and a 200-day moving average of $91.17. The firm has a market capitalization of $8.70 billion, a P/E ratio of 8.47, a PEG ratio of 0.63 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.68. Owens Corning has a 12-month low of $79.35 and a 12-month high of $109.24.

Owens Corning (NYSE:OCGet Rating) last released its earnings results on Wednesday, April 27th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.42. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.23 billion. Owens Corning had a net margin of 12.20% and a return on equity of 24.44%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. On average, research analysts predict that Owens Corning will post 11.65 EPS for the current year.

Owens Corning Company Profile (Get Rating)

Owens Corning manufactures and markets 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 glass fiber products in the form of fabrics, non-wovens, and other specialized products.

See Also

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCGet Rating).

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

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.