Teacher Retirement System of Texas Acquires 8,391 Shares of Owens Corning (NYSE:OC)

Teacher Retirement System of Texas grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,643 shares of the construction company's stock after buying an additional 8,391 shares during the quarter. Teacher Retirement System of Texas owned 0.19% of Owens Corning worth $25,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OC. Raymond James Financial Services Advisors Inc. grew its stake in Owens Corning by 109.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,342 shares of the construction company's stock worth $1,002,000 after purchasing an additional 3,831 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Owens Corning in the third quarter worth approximately $325,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Owens Corning in the third quarter worth approximately $1,534,000. Park Avenue Securities LLC bought a new position in Owens Corning in the third quarter worth approximately $422,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Owens Corning by 8.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 115,909 shares of the construction company's stock worth $15,811,000 after purchasing an additional 8,978 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Down 0.3 %

Shares of OC traded down $0.57 during midday trading on Friday, hitting $176.81. 525,808 shares of the company's stock traded hands, compared to its average volume of 679,701. Owens Corning has a 1 year low of $103.65 and a 1 year high of $179.20. The firm's fifty day moving average is $165.33 and its 200-day moving average is $149.70. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 5.32 and a beta of 1.45.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $2.77 EPS. As a group, sell-side analysts anticipate that Owens Corning will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Paula Russell sold 3,765 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company's stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares of the company's stock, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gunner Smith sold 7,442 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on OC shares. Argus increased their price objective on Owens Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Barclays lowered Owens Corning from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Loop Capital upped their target price on Owens Corning from $167.00 to $188.00 and gave the stock a "buy" rating in a report on Monday, April 1st. UBS Group upped their target price on Owens Corning from $169.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada upped their target price on Owens Corning from $175.00 to $192.00 and gave the stock an "outperform" rating in a report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $168.21.

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.