Gotham Asset Management LLC Acquires 63,918 Shares of Owens Corning Inc $OC

Gotham Asset Management LLC raised its holdings in Owens Corning Inc (NYSE:OC) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,784 shares of the construction company’s stock after buying an additional 63,918 shares during the period. Gotham Asset Management LLC owned about 0.47% of Owens Corning worth $43,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OC. Arrowstreet Capital Limited Partnership raised its stake in Owens Corning by 460.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after buying an additional 1,078,877 shares during the period. Norges Bank bought a new stake in Owens Corning in the fourth quarter valued at approximately $119,748,000. Gendell Jeffrey L raised its stake in Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after buying an additional 716,839 shares during the period. Dimensional Fund Advisors LP raised its stake in Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock valued at $288,332,000 after buying an additional 645,773 shares during the period. Finally, First Trust Advisors LP raised its stake in Owens Corning by 51.8% in the fourth quarter. First Trust Advisors LP now owns 1,775,411 shares of the construction company’s stock valued at $198,686,000 after buying an additional 605,926 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred 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 transaction, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $123.88 on Thursday. The firm has a market cap of $9.98 billion, a P/E ratio of -18.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The business’s 50 day moving average is $119.91 and its 200-day moving average is $118.27.

Owens Corning (NYSE:OC) last announced 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. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.97 earnings per share. Equities research analysts predict that Owens Corning Inc will post 9.53 earnings per share for the current year.

Wall Street Analyst Weigh In

OC has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays upped their price objective on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. UBS Group increased their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Truist Financial increased their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. One equities 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 company. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus 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.