Qsemble Capital Management LP Takes Position in Owens Corning Inc $OC

Qsemble Capital Management LP acquired a new stake in Owens Corning Inc (NYSE:OC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 70,074 shares of the construction company’s stock, valued at approximately $7,842,000. Qsemble Capital Management LP owned 0.09% of Owens Corning as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OC. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning in the 4th quarter valued at about $37,000. Root Financial Partners LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $39,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $42,000. V Square Quantitative Management LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at about $49,000. Finally, Torren Management LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company raised their target price on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Truist Financial raised their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Finally, Bank of America cut their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.82.

Insider Buying and Selling

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of Owens Corning 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 of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $114.19 on Friday. 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 Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42. The firm has a market capitalization of $9.20 billion, a PE ratio of -17.28, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. The stock’s 50-day simple moving average is $113.80 and its 200-day simple moving average is $116.69.

Owens Corning (NYSE:OC) last released its quarterly 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 company 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 firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 earnings per share. As a group, equities research analysts forecast that Owens Corning Inc will post 9.53 EPS for the current fiscal 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.