Kimelman & Baird LLC Sells 9,180 Shares of Owens Corning Inc $OC

Kimelman & Baird LLC decreased its stake in Owens Corning Inc (NYSE:OC) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,136 shares of the construction company’s stock after selling 9,180 shares during the period. Owens Corning accounts for approximately 1.7% of Kimelman & Baird LLC’s holdings, making the stock its 23rd largest position. Kimelman & Baird LLC owned approximately 0.24% of Owens Corning worth $22,062,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. RiverFront Investment Group LLC acquired a new stake in Owens Corning in the 4th quarter valued at about $209,000. North Dakota State Investment Board acquired a new stake in Owens Corning in the 4th quarter valued at about $336,000. Qsemble Capital Management LP acquired a new stake in Owens Corning in the 4th quarter valued at about $7,842,000. Northwestern Mutual Wealth Management Co. lifted its stake in Owens Corning by 1,243.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock valued at $4,379,000 after purchasing an additional 36,222 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Owens Corning by 31.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 25,404 shares of the construction company’s stock valued at $2,843,000 after purchasing an additional 6,030 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OC. Evercore set a $139.00 target price on shares of Owens Corning in a research note on Thursday, May 7th. UBS Group raised their target price on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wells Fargo & Company raised their target price on shares of Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Bank of America cut their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.

Owens Corning Trading Down 1.7%

Shares of OC stock opened at $112.15 on Tuesday. The firm has a 50 day moving average price of $113.81 and a two-hundred day moving average price of $116.51. 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 company has a market capitalization of $9.03 billion, a PE ratio of -16.97, a price-to-earnings-growth ratio of 2.07 and a beta of 1.35. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts predict that Owens Corning Inc will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Owens Corning

In other Owens Corning 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 of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.

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.