Voss Capital LP Takes $12.87 Million Position in Owens Corning Inc $OC

Voss Capital LP bought a new stake in Owens Corning Inc (NYSE:OC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 115,000 shares of the construction company’s stock, valued at approximately $12,870,000. Owens Corning makes up 0.6% of Voss Capital LP’s portfolio, making the stock its 26th largest holding.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Owens Corning by 99.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after acquiring an additional 454,382 shares in the last quarter. Caprock Group LLC bought a new stake in Owens Corning in the 3rd quarter valued at approximately $1,742,000. Dimensional Fund Advisors LP lifted its stake in Owens Corning by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company’s stock valued at $273,101,000 after acquiring an additional 110,452 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in Owens Corning by 130.5% in the 3rd quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company’s stock valued at $11,500,000 after acquiring an additional 46,022 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its stake in Owens Corning by 5.0% in the 4th quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock valued at $46,172,000 after acquiring an additional 19,553 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 0.0%

OC stock opened at $121.43 on Friday. 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 market capitalization of $9.78 billion, a PE ratio of -18.37, a PEG ratio of 2.20 and a beta of 1.34. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The business’s 50 day simple moving average is $118.75 and its 200 day simple moving average is $117.88.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business 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 period in the previous year, the firm earned $2.97 EPS. As a group, research analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. UBS Group boosted their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Truist Financial boosted their price target on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their price target on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.

Insider Buying and Selling

In related news, VP Mari Doerfler sold 1,926 shares of the business’s 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 directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently 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.