Clean Energy Transition LLP Has $63.07 Million Stake in Owens Corning Inc $OC

Key Points

• Clean Energy Transition LLP increased its Owens Corning stake by 6.0% in the fourth quarter, buying 31,924 more shares and bringing its holding to 563,542 shares worth about $63.1 million.
• Several other institutional investors also boosted OC holdings, and institutional ownership stands at 88.40%, indicating strong investor interest in the stock.
• Analysts remain generally positive: Owens Corning has a Moderate Buy consensus rating with an average price target of $144.82, while the company also beat quarterly EPS and revenue estimates in its latest earnings report.

Clean Energy Transition LLP raised its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 563,542 shares of the construction company's stock after purchasing an additional 31,924 shares during the quarter. Owens Corning accounts for 5.3% of Clean Energy Transition LLP's investment portfolio, making the stock its 5th largest position. Clean Energy Transition LLP owned approximately 0.69% of Owens Corning worth $63,066,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OC. JPMorgan Chase & Co. lifted 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 purchasing an additional 454,382 shares in the last quarter. Caprock Group LLC purchased a new stake in Owens Corning during the 3rd quarter worth about $1,742,000. Dimensional Fund Advisors LP lifted its holdings in Owens Corning by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company's stock worth $273,101,000 after purchasing an additional 110,452 shares in the last quarter. Boothbay Fund Management LLC lifted its holdings in Owens Corning by 130.5% during the 3rd quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company's stock worth $11,500,000 after purchasing an additional 46,022 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in Owens Corning by 5.0% during the 4th quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company's stock worth $46,172,000 after purchasing an additional 19,553 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on OC shares. Royal Bank Of Canada increased their price objective on Owens Corning from $134.00 to $148.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Truist Financial raised their price target on Owens Corning from $120.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on Owens Corning from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, UBS Group raised their price target on Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.82.

Owens Corning Stock Performance

NYSE:OC opened at $121.43 on Friday. The business's 50-day moving average price is $118.75 and its two-hundred day moving average price is $117.88. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock has a market cap of $9.78 billion, a P/E ratio of -18.37, a PEG ratio of 2.20 and a beta of 1.34. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly 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 positive return on equity of 19.86% and a negative net margin of 5.43%.The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the firm posted $2.97 EPS. The company's revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Insider Activity

In related news, VP Mari Doerfler sold 1,926 shares of the firm's stock in a transaction dated 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. This trade represents a 38.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were 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 approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company's stock.

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.

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