Interval Partners LP Decreases Stock Holdings in Owens Corning Inc $OC

Interval Partners LP trimmed its position in Owens Corning Inc (NYSE:OC) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,221 shares of the construction company’s stock after selling 44,292 shares during the quarter. Interval Partners LP owned 0.17% of Owens Corning worth $15,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in OC. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the fourth quarter valued at $29,000. Harbour Investments Inc. boosted its holdings in Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after acquiring an additional 129 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning in the fourth quarter valued at $37,000. Measured Wealth Private Client Group LLC bought a new stake in Owens Corning in the third quarter valued at $42,000. Finally, Global Retirement Partners LLC boosted its holdings in Owens Corning by 1,173.3% in the fourth quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock valued at $43,000 after acquiring an additional 352 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings cut shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Evercore set a $139.00 price target on shares of Owens Corning in a report on Thursday, May 7th. Barclays lifted their price target on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, May 11th. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Truist Financial lifted their price target on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Insiders Place Their Bets

In other news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $123.88 on Thursday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The stock has a market cap of $9.98 billion, a PE ratio of -18.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The company’s fifty day moving average price is $119.91 and its 200-day moving average price is $118.27.

Owens Corning (NYSE:OC) last announced its 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. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business posted $2.97 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Owens Corning 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.