Clark Capital Management Group Inc. Buys 13,043 Shares of Owens Corning (NYSE:OC)

Clark Capital Management Group Inc. boosted its stake in shares of Owens Corning (NYSE:OC - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,972 shares of the construction company's stock after acquiring an additional 13,043 shares during the period. Clark Capital Management Group Inc. owned 0.38% of Owens Corning worth $55,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Owens Corning by 41.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after purchasing an additional 414,770 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the 4th quarter valued at $208,519,000. Northern Trust Corp boosted its holdings in shares of Owens Corning by 27.4% in the 4th quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock valued at $164,335,000 after purchasing an additional 207,677 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Owens Corning by 20.7% during the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock valued at $126,849,000 after acquiring an additional 127,785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Owens Corning by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company's stock valued at $109,091,000 after acquiring an additional 16,958 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OC shares. Loop Capital cut their price objective on Owens Corning from $203.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday. Royal Bank of Canada cut their price objective on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a report on Thursday. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Barclays cut their target price on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $188.55.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $6.84 during trading on Monday, hitting $143.28. 1,032,136 shares of the company were exchanged, compared to its average volume of 823,098. The company has a market cap of $12.19 billion, a PE ratio of 12.19, a P/E/G ratio of 1.88 and a beta of 1.44. The stock has a 50 day moving average of $141.20 and a 200 day moving average of $167.80. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 earnings per share. As a group, equities research analysts predict that Owens Corning will post 15.49 EPS for the current year.

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.