Northwestern Mutual Wealth Management Co. Has $4.38 Million Stake in Owens Corning Inc $OC

Northwestern Mutual Wealth Management Co. grew its holdings in Owens Corning Inc (NYSE:OC) by 1,243.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 39,134 shares of the construction company’s stock after buying an additional 36,222 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Owens Corning were worth $4,379,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in OC. Clean Energy Transition LLP acquired a new position in shares of Owens Corning in the 3rd quarter valued at about $75,203,000. JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after purchasing an additional 454,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Owens Corning by 65.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,787 shares of the construction company’s stock valued at $160,810,000 after purchasing an additional 451,547 shares during the period. AQR Capital Management LLC increased its holdings in shares of Owens Corning by 70.9% in the 2nd quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock valued at $132,102,000 after purchasing an additional 398,440 shares during the period. Finally, Davis Selected Advisers increased its holdings in shares of Owens Corning by 15.1% in the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock valued at $229,035,000 after purchasing an additional 269,216 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the transaction, the vice president owned 3,093 shares in the company, valued at $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.92% of the stock is currently owned by company insiders.

Owens Corning Trading Up 0.1%

NYSE:OC opened at $117.53 on Monday. The stock’s 50 day moving average price is $114.29 and its 200 day moving average price is $116.19. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The company has a market capitalization of $9.46 billion, a P/E ratio of -17.78, a P/E/G ratio of 2.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore set a $139.00 price objective on Owens Corning in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Barclays increased their price objective on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings downgraded Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada increased their price objective on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.82.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.