Kingsview Wealth Management LLC Has $7.60 Million Stake in Owens Corning (NYSE:OC)

Kingsview Wealth Management LLC lifted its holdings in shares of Owens Corning (NYSE:OCFree Report) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 51,276 shares of the construction company’s stock after acquiring an additional 1,587 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Owens Corning were worth $7,601,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning in the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning during the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC grew its stake in shares of Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after purchasing an additional 78 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Owens Corning in the fourth quarter worth $55,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE OC traded up $2.66 during mid-day trading on Friday, reaching $176.38. 610,779 shares of the company were exchanged, compared to its average volume of 643,787. The company’s 50-day simple moving average is $167.68 and its 200-day simple moving average is $151.68. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $15.29 billion, a P/E ratio of 14.28, a P/E/G ratio of 5.21 and a beta of 1.45. Owens Corning has a twelve month low of $105.56 and a twelve month high of $181.49.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company earned $2.77 EPS. The business’s revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that Owens Corning will post 15.37 earnings per share for the current year.

Insider Activity

In related news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OC shares. Evercore ISI raised their target price on shares of Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday, April 25th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $170.00 to $160.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. UBS Group raised their target price on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Argus raised their target price on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $168.21.

Read Our Latest Stock Analysis on OC

Owens Corning Profile

(Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

See Also

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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