Interval Partners LP Sells 44,292 Shares of Owens Corning Inc $OC

Interval Partners LP lessened its position in Owens Corning Inc (NYSE:OC) by 24.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 140,221 shares of the construction company’s stock after selling 44,292 shares during the period. Interval Partners LP’s holdings in Owens Corning were worth $15,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OC. Arrowstreet Capital Limited Partnership lifted its stake in shares of Owens Corning by 460.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after buying an additional 1,078,877 shares in the last quarter. Norges Bank purchased a new position in Owens Corning in the 4th quarter worth about $119,748,000. Gendell Jeffrey L raised its position in Owens Corning by 349.3% in the 4th quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock worth $103,188,000 after buying an additional 716,839 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Owens Corning by 33.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after buying an additional 645,773 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Owens Corning by 51.8% in the 4th quarter. First Trust Advisors LP now owns 1,775,411 shares of the construction company’s stock worth $198,686,000 after buying an additional 605,926 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Truist Financial upped their price target on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Wells Fargo & Company upped their price target on shares of Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group upped their price target on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Bank of America reduced their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.82.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $123.88 on Thursday. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The firm has a market capitalization of $9.98 billion, a P/E ratio of -18.74, a PEG ratio of 2.33 and a beta of 1.34. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $119.91 and a 200-day moving average price of $118.27.

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

About Owens Corning

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.