Havemeyer Place LP Takes Position in Owens Corning Inc $OC

Havemeyer Place LP purchased a new stake in shares of Owens Corning Inc (NYSE:OC) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,494 shares of the construction company’s stock, valued at approximately $1,174,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Owens Corning during the 3rd quarter valued at $42,000. Harbour Investments Inc. raised its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning in the 4th quarter worth $37,000. Global Retirement Partners LLC raised its holdings in Owens Corning by 1,173.3% in the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after purchasing an additional 352 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Owens Corning in the 3rd quarter worth $56,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

NYSE:OC opened at $119.16 on Monday. 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 business’s 50-day simple moving average is $117.38 and its two-hundred day simple moving average is $117.30. The stock has a market cap of $9.60 billion, a PE ratio of -18.03, a P/E/G ratio of 2.16 and a beta of 1.34. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. As a group, analysts forecast that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on OC. Weiss Ratings cut Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Wells Fargo & Company raised their target price on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their target price on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. UBS Group raised their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, The Goldman Sachs Group raised their target price on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $144.82.

Insider Transactions at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

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.