William Blair Investment Management LLC Has $18.76 Million Holdings in Owens Corning Inc $OC

William Blair Investment Management LLC lessened its holdings in shares of Owens Corning Inc (NYSE:OC) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 167,613 shares of the construction company’s stock after selling 11,675 shares during the quarter. William Blair Investment Management LLC’s holdings in Owens Corning were worth $18,758,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OC. Geneos Wealth Management Inc. raised its stake in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC acquired a new stake in Owens Corning during the 2nd quarter worth $277,000. EverSource Wealth Advisors LLC raised its stake in Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock worth $175,000 after buying an additional 1,190 shares during the period. Cerity Partners LLC raised its stake in Owens Corning by 294.3% during the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock worth $2,389,000 after buying an additional 12,966 shares during the period. Finally, Bank of Nova Scotia raised its stake in Owens Corning by 12.2% during the 2nd quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock worth $421,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. The Goldman Sachs Group increased 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. Truist Financial increased their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Bank of America lowered their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Evercore set a $139.00 target price on Owens Corning in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.82.

Owens Corning Price Performance

OC stock opened at $117.53 on Tuesday. The stock has a 50-day moving average price of $114.59 and a two-hundred day moving average price of $116.15. The stock has a market cap of $9.46 billion, a PE ratio of -17.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations 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 was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. Equities analysts forecast that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is 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.