Catalyst Funds Management Pty Ltd Purchases New Shares in Owens Corning Inc $OC

Catalyst Funds Management Pty Ltd purchased a new stake in shares of Owens Corning Inc (NYSE:OC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,737 shares of the construction company’s stock, valued at approximately $1,202,000.

Several other hedge funds also recently made changes to their positions in the company. Guinness Asset Management LTD boosted its position in shares of Owens Corning by 24.9% during the fourth quarter. Guinness Asset Management LTD now owns 63,039 shares of the construction company’s stock valued at $7,120,000 after purchasing an additional 12,573 shares in the last quarter. LSV Asset Management boosted its position in shares of Owens Corning by 1.0% during the fourth quarter. LSV Asset Management now owns 1,463,671 shares of the construction company’s stock valued at $163,799,000 after purchasing an additional 14,109 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Owens Corning by 1,173.3% during the fourth quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock valued at $43,000 after purchasing an additional 352 shares in the last quarter. Fortis Group Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $790,000. Finally, Rathbones Group PLC boosted its position in shares of Owens Corning by 8.9% during the fourth quarter. Rathbones Group PLC now owns 60,818 shares of the construction company’s stock valued at $6,806,000 after purchasing an additional 4,965 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OC has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. The Goldman Sachs Group boosted their target price on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Bank of America dropped their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Barclays boosted their target price on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, UBS Group boosted their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $144.82.

Owens Corning Trading Up 1.3%

Owens Corning stock opened at $117.53 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $114.29 and its two-hundred day simple moving average is $116.24. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -17.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.97 earnings per share. As a group, equities analysts predict that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction 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 directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This 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 through the SEC website. 0.92% of the stock is currently owned by insiders.

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.