Systematic Financial Management LP Has $27.36 Million Stock Position in Owens Corning Inc $OC

Key Points

• Systematic Financial Management LP increased its Owens Corning stake by 10.8% in the fourth quarter, holding 244,437 shares worth about $27.36 million.
• Owens Corning beat earnings expectations for the latest quarter, reporting EPS of $1.22 versus the $1.01 consensus and revenue of $2.27 billion, though sales were still down 10.5% year over year.
• Wall Street sentiment is cautiously positive: analysts’ average rating is “Moderate Buy” with an average price target of $144.82, while one company insider recently sold shares and institutional investors own 88.4% of the stock.

Systematic Financial Management LP boosted its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,437 shares of the construction company's stock after buying an additional 23,873 shares during the quarter. Systematic Financial Management LP owned approximately 0.30% of Owens Corning worth $27,355,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its stake in Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company's stock valued at $6,909,000 after buying an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company's stock valued at $128,917,000 after buying an additional 454,382 shares in the last quarter. Caprock Group LLC acquired a new stake in Owens Corning in the third quarter valued at about $1,742,000. National Pension Service boosted its stake in Owens Corning by 25.5% in the third quarter. National Pension Service now owns 95,495 shares of the construction company's stock valued at $13,509,000 after buying an additional 19,375 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Owens Corning by 46.0% in the third quarter. Federated Hermes Inc. now owns 137,432 shares of the construction company's stock valued at $19,441,000 after buying an additional 43,320 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on OC. Evercore set a $139.00 price objective on Owens Corning in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on Owens Corning from $115.00 to $121.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Barclays raised their price objective on Owens Corning from $135.00 to $144.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Royal Bank Of Canada increased their target price on Owens Corning from $134.00 to $148.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings downgraded Owens Corning from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $144.82.

Owens Corning Price Performance

Owens Corning stock opened at $117.53 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $9.46 billion, a PE ratio of -17.78, a P/E/G ratio of 2.13 and a beta of 1.35. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The stock has a 50-day moving average price of $114.29 and a two-hundred day moving average price of $116.24.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $2.97 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. Analysts expect that Owens Corning Inc will post 9.53 EPS for the current year.

Insider Buying and Selling

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company's stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.92% of the company's stock.

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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