LSV Asset Management Has $163.80 Million Stock Holdings in Owens Corning Inc $OC

Key Points

• LSV Asset Management increased its Owens Corning stake by 1.0% in the fourth quarter, ending with 1.46 million shares worth about $163.8 million.
• Owens Corning reported better-than-expected Q1 earnings of $1.22 per share on revenue of $2.27 billion, though sales were still down 10.5% year over year.
• Analyst sentiment remains constructive, with a consensus “Moderate Buy” rating and an average price target of $144.82 after several firms raised or adjusted their targets.

LSV Asset Management raised its position in Owens Corning Inc (NYSE:OC - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,463,671 shares of the construction company's stock after buying an additional 14,109 shares during the quarter. LSV Asset Management owned 1.78% of Owens Corning worth $163,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in Owens Corning by 1,173.3% in the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company's stock valued at $43,000 after buying an additional 352 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in Owens Corning in the 4th quarter valued at $790,000. Rathbones Group PLC grew its holdings in Owens Corning by 8.9% in the 4th quarter. Rathbones Group PLC now owns 60,818 shares of the construction company's stock valued at $6,806,000 after buying an additional 4,965 shares in the last quarter. Covestor Ltd grew its holdings in Owens Corning by 120.0% in the 4th quarter. Covestor Ltd now owns 988 shares of the construction company's stock valued at $111,000 after buying an additional 539 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Owens Corning by 105.5% in the 4th quarter. Handelsbanken Fonder AB now owns 141,416 shares of the construction company's stock valued at $15,826,000 after buying an additional 72,597 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE:OC opened at $117.53 on Friday. The stock has a fifty day moving average price of $114.29 and a 200-day moving average price of $116.24. The company has a market cap of $9.46 billion, a price-to-earnings ratio of -17.78, a PEG ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 EPS. As a group, equities analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the company's stock in a transaction 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 completion of the sale, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. This represents a 38.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on OC. The Goldman Sachs Group upped their price objective on Owens Corning from $125.00 to $141.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research upgraded Owens Corning from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings downgraded Owens Corning from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. Bank of America cut their target price on Owens Corning from $140.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Finally, Barclays upped their target price on Owens Corning from $135.00 to $144.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.82.

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.

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