William Blair Investment Management LLC Has $18.76 Million Stock Holdings in Owens Corning Inc $OC

Key Points

• William Blair Investment Management reduced its Owens Corning stake by 6.5% in the fourth quarter, but still held 167,613 shares worth about $18.76 million.
• Wall Street remains broadly positive on the stock, with Owens Corning carrying a Moderate Buy consensus and an average price target of $144.82. Several firms recently raised their targets, including Barclays and RBC.
• Owens Corning reported better-than-expected quarterly earnings of $1.22 per share on revenue of $2.27 billion, though revenue fell 10.5% year over year. Insider activity was mixed, as VP Mari Doerfler sold 1,926 shares in May.

William Blair Investment Management LLC decreased its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 167,613 shares of the construction company's stock after selling 11,675 shares during the quarter. William Blair Investment Management LLC owned approximately 0.20% of Owens Corning worth $18,758,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Pitcairn Co. lifted its holdings in Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after buying an additional 80 shares in the last quarter. Archer Investment Corp lifted its holdings in Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company's stock worth $106,000 after buying an additional 88 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Owens Corning by 2.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company's stock worth $447,000 after buying an additional 104 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Owens Corning by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company's stock worth $1,626,000 after buying an additional 117 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Owens Corning by 4.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,589 shares of the construction company's stock worth $366,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price objective on Owens Corning from $135.00 to $144.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Royal Bank Of Canada upped 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. The Goldman Sachs Group increased their price target on Owens Corning from $125.00 to $141.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Zacks Research raised Owens Corning from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Bank of America cut their price target on Owens Corning from $140.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. 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 stock. According to MarketBeat.com, Owens Corning presently has an average rating of "Moderate Buy" and an average price target of $144.82.

Insider Buying and Selling at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction 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 transaction, the vice president owned 3,093 shares of the company's stock, valued at $374,005.56. This represents a 38.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Owens Corning Stock Performance

OC stock opened at $117.53 on Tuesday. The business's fifty day moving average is $114.59 and its 200-day moving average is $116.15. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The company has a market cap of $9.46 billion, a P/E ratio of -17.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly 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 company had revenue of $2.27 billion for 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 firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. Equities research analysts forecast that Owens Corning Inc will post 9.53 EPS for the current year.

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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