Owens Corning Inc $OC Shares Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC grew its holdings in Owens Corning Inc (NYSE:OC) by 203.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,630 shares of the construction company’s stock after buying an additional 39,289 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Owens Corning were worth $6,561,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Systematic Financial Management LP grew its stake in shares of Owens Corning by 10.8% in the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after acquiring an additional 23,873 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of Owens Corning in the fourth quarter worth $1,202,000. Guinness Asset Management LTD grew its stake in shares of Owens Corning by 24.9% in the fourth quarter. Guinness Asset Management LTD now owns 63,039 shares of the construction company’s stock worth $7,120,000 after acquiring an additional 12,573 shares in the last quarter. LSV Asset Management increased its stake in shares of Owens Corning by 1.0% during the fourth quarter. LSV Asset Management now owns 1,463,671 shares of the construction company’s stock worth $163,799,000 after buying an additional 14,109 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Owens Corning by 1,173.3% during the fourth quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $117.53 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The company has a market capitalization of $9.46 billion, a PE ratio of -17.78, a P/E/G ratio of 2.13 and a beta of 1.35. The company has a fifty day moving average of $114.29 and a two-hundred day moving average of $116.19.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 firm posted $2.97 earnings per share. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current year.

Insider Transactions at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The shares were 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 in the company, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent research reports. Bank of America cut their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. UBS Group boosted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. The Goldman Sachs Group boosted their price target on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Barclays boosted their target price on shares of Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $144.82.

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.