Thrivent Financial for Lutherans Boosts Stake in Owens Corning Inc $OC

Thrivent Financial for Lutherans raised its position in shares of Owens Corning Inc (NYSE:OC) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,404 shares of the construction company’s stock after acquiring an additional 6,030 shares during the period. Thrivent Financial for Lutherans’ holdings in Owens Corning were worth $2,843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OC. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Owens Corning during the fourth quarter valued at about $37,000. Root Financial Partners LLC purchased a new stake in Owens Corning during the third quarter valued at about $39,000. Measured Wealth Private Client Group LLC purchased a new stake in Owens Corning during the third quarter valued at about $42,000. V Square Quantitative Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $49,000. Finally, Torren Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of several analyst reports. Bank of America decreased 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. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wells Fargo & Company upped their target price on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their target price on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average price target of $144.82.

Insider Buying and Selling

In related news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction dated 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 transaction, the vice president owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $117.53 on Monday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The business has a 50-day moving average of $114.29 and a 200-day moving average of $116.19. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -17.78, a PEG ratio of 2.13 and a beta of 1.35.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $2.97 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Owens Corning Company 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.