Cynosure Group LLC Takes $850,000 Position in Owens Corning Inc $OC

Cynosure Group LLC purchased a new stake in Owens Corning Inc (NYSE:OC) during the fourth quarter, Holdings Channel reports. The fund purchased 7,594 shares of the construction company’s stock, valued at approximately $850,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alberta Investment Management Corp purchased a new stake in shares of Owens Corning in the 4th quarter valued at approximately $3,782,000. Squarepoint Ops LLC increased its stake in Owens Corning by 542.7% during the 4th quarter. Squarepoint Ops LLC now owns 228,132 shares of the construction company’s stock worth $25,530,000 after buying an additional 192,637 shares during the period. Verition Fund Management LLC increased its stake in Owens Corning by 71.7% during the 4th quarter. Verition Fund Management LLC now owns 41,663 shares of the construction company’s stock worth $4,663,000 after buying an additional 17,399 shares during the period. PEAK6 LLC increased its stake in Owens Corning by 1,997.2% during the 4th quarter. PEAK6 LLC now owns 42,595 shares of the construction company’s stock worth $4,767,000 after buying an additional 40,564 shares during the period. Finally, Mariner LLC increased its stake in Owens Corning by 80.3% during the 4th quarter. Mariner LLC now owns 31,192 shares of the construction company’s stock worth $3,493,000 after buying an additional 13,894 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the firm’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 transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares of the company’s stock, valued at $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. Company insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the topic of several recent research reports. Truist Financial upped their target price on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. The Goldman Sachs Group upped their target price on shares of Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Owens Corning Trading Up 1.5%

Shares of Owens Corning stock opened at $123.22 on Tuesday. The company has a fifty day simple moving average of $119.10 and a 200-day simple moving average of $118.06. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42. 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 stock has a market cap of $9.92 billion, a price-to-earnings ratio of -18.64, a PEG ratio of 2.20 and a beta of 1.34.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the firm posted $2.97 EPS. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts forecast that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

About Owens Corning

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.