Cresset Asset Management LLC Has $2.58 Million Stock Position in Owens Corning (NYSE:OC)

Cresset Asset Management LLC reduced its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 51.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,145 shares of the construction company's stock after selling 16,034 shares during the quarter. Cresset Asset Management LLC's holdings in Owens Corning were worth $2,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC lifted its position in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning in the 4th quarter worth about $34,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Owens Corning from $155.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Royal Bank of Canada lowered their target price on Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and an average target price of $188.55.

Owens Corning Trading Up 5.0%

Shares of OC stock traded up $6.84 on Monday, hitting $143.28. The company had a trading volume of 1,032,136 shares, compared to its average volume of 823,098. The firm has a market cap of $12.19 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.88 and a beta of 1.44. The stock's 50-day moving average is $141.09 and its two-hundred day moving average is $167.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. 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. On average, equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal 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.