Rathbones Group PLC Purchases 4,965 Shares of Owens Corning Inc $OC

Rathbones Group PLC lifted its position in Owens Corning Inc (NYSE:OC) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,818 shares of the construction company’s stock after buying an additional 4,965 shares during the quarter. Rathbones Group PLC’s holdings in Owens Corning were worth $6,806,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Owens Corning during the 3rd quarter valued at $39,000. Measured Wealth Private Client Group LLC acquired a new stake in Owens Corning during the 3rd quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Owens Corning during the 4th quarter valued at $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in Owens Corning during the 3rd quarter valued at $56,000. Finally, Whittier Trust Co. acquired a new stake in Owens Corning during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OC. Royal Bank Of Canada raised their price target on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Truist Financial raised their price target on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, UBS Group raised their price target on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Insider Buying and Selling at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Stock Up 2.2%

OC opened at $115.92 on Friday. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a market capitalization of $9.34 billion, a P/E ratio of -17.54, a P/E/G ratio of 2.06 and a beta of 1.35. The stock has a fifty day moving average of $114.09 and a 200-day moving average of $116.24.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm earned $2.97 earnings per share. The company’s 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 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.