Eisler Capital Management Ltd. Takes $2.40 Million Position in Owens Corning (NYSE:OC)

Eisler Capital Management Ltd. purchased a new position in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,200 shares of the construction company's stock, valued at approximately $2,403,000.

Several other large investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its stake in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after purchasing an additional 53 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after purchasing an additional 56 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of Owens Corning by 3.3% in the 4th quarter. CoreCap Advisors LLC now owns 1,789 shares of the construction company's stock valued at $305,000 after purchasing an additional 57 shares in the last quarter. Retirement Guys Formula LLC boosted its stake in shares of Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after purchasing an additional 60 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 0.7%

OC stock traded up $0.99 during midday trading on Friday, hitting $136.43. The stock had a trading volume of 1,036,119 shares, compared to its average volume of 822,259. The firm has a market cap of $11.60 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The business has a fifty day moving average price of $141.20 and a two-hundred day moving average price of $167.80.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 earnings per share. On average, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research note on Friday. UBS Group cut their price target on Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target on the stock. Finally, Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.55.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.