Systematic Financial Management LP Increases Stock Holdings in Owens Corning Inc $OC

Systematic Financial Management LP lifted its stake in shares of Owens Corning Inc (NYSE:OC) by 10.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 244,437 shares of the construction company’s stock after buying an additional 23,873 shares during the period. Systematic Financial Management LP’s holdings in Owens Corning were worth $27,355,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC boosted its position in shares of Owens Corning by 231.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after buying an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Owens Corning by 99.4% during the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after buying an additional 454,382 shares during the last quarter. Caprock Group LLC bought a new stake in Owens Corning during the third quarter worth $1,742,000. National Pension Service lifted its holdings in Owens Corning by 25.5% during the third quarter. National Pension Service now owns 95,495 shares of the construction company’s stock worth $13,509,000 after acquiring an additional 19,375 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Owens Corning by 46.0% during the third quarter. Federated Hermes Inc. now owns 137,432 shares of the construction company’s stock worth $19,441,000 after acquiring an additional 43,320 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on OC. Weiss Ratings lowered Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Wells Fargo & Company lifted their price target on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group lifted their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada lifted their price target on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group lifted their price target on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.82.

Owens Corning Stock Performance

Shares of OC opened at $117.53 on Friday. The firm has a market cap of $9.46 billion, a PE ratio of -17.78, a PEG ratio of 2.13 and a beta of 1.35. The stock’s fifty day moving average price is $114.29 and its two-hundred day moving average price is $116.24. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

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

Insider Activity

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

Owens Corning Company 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.