NorthRock Partners LLC Purchases 2,176 Shares of Owens Corning (NYSE:OC)

NorthRock Partners LLC grew its holdings in Owens Corning (NYSE:OC - Free Report) by 152.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,601 shares of the construction company's stock after purchasing an additional 2,176 shares during the period. NorthRock Partners LLC's holdings in Owens Corning were worth $613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp increased its stake in shares of Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Allstate Corp acquired a new stake in shares of Owens Corning during the 4th quarter valued at $425,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Owens Corning during the 4th quarter valued at $349,000. Principal Financial Group Inc. boosted its holdings in shares of Owens Corning by 88.9% during the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock valued at $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its holdings in shares of Owens Corning by 1.0% during the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock valued at $87,212,000 after acquiring an additional 5,167 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OC. Evercore ISI set a $165.00 price objective on Owens Corning in a report on Thursday. Royal Bank of Canada cut their price objective on Owens Corning from $199.00 to $184.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group cut their price objective on Owens Corning from $235.00 to $218.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Barclays cut their target price on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $186.64.

Owens Corning Trading Down 1.9%

Shares of OC stock traded down $2.69 during mid-day trading on Monday, hitting $142.37. The company's stock had a trading volume of 755,350 shares, compared to its average volume of 830,460. The company's fifty day simple moving average is $141.15 and its 200-day simple moving average is $166.47. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market cap of $12.11 billion, a PE ratio of 12.12, a P/E/G ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 EPS. As a group, equities research analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning announced that its board has authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase 12,000,000 shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Owens Corning Company Profile

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.