Rathbones Group PLC Has $6.81 Million Stock Position in Owens Corning Inc $OC

Rathbones Group PLC boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 8.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,818 shares of the construction company’s stock after buying an additional 4,965 shares during the period. Rathbones Group PLC owned approximately 0.07% of Owens Corning worth $6,806,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of OC. Clean Energy Transition LLP acquired a new stake in Owens Corning during the 3rd quarter worth approximately $75,203,000. JPMorgan Chase & Co. raised its holdings in Owens Corning by 99.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after buying an additional 454,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Owens Corning by 65.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,787 shares of the construction company’s stock worth $160,810,000 after buying an additional 451,547 shares during the period. AQR Capital Management LLC raised its holdings in Owens Corning by 70.9% during the 2nd quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after buying an additional 398,440 shares during the period. Finally, Davis Selected Advisers raised its holdings in Owens Corning by 15.1% during the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after buying an additional 269,216 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were 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 directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

NYSE:OC opened at $115.92 on Friday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. 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 firm has a fifty day simple moving average of $114.09 and a 200 day simple moving average of $116.24. The stock has a market capitalization of $9.34 billion, a PE ratio of -17.54, a P/E/G ratio of 2.06 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 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business earned $2.97 earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis. On average, research analysts expect that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

OC has been the subject of several research reports. Royal Bank Of Canada raised their price target on shares of Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Truist Financial raised their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Barclays raised their price target on shares of Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One 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 stock. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average price target of $144.82.

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.