Owens Corning Inc $OC Shares Acquired by Fieldview Capital Management LLC

Fieldview Capital Management LLC increased its stake in Owens Corning Inc (NYSE:OC) by 146.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,072 shares of the construction company’s stock after acquiring an additional 4,793 shares during the period. Fieldview Capital Management LLC’s holdings in Owens Corning were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Owens Corning by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock valued at $1,092,883,000 after acquiring an additional 84,096 shares in the last quarter. State Street Corp raised its stake in shares of Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock valued at $514,205,000 after acquiring an additional 81,133 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 645,773 shares in the last quarter. Davis Selected Advisers raised its stake in shares of Owens Corning by 15.1% in the fourth quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock valued at $229,035,000 after acquiring an additional 269,216 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of 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 acquiring an additional 605,926 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on OC shares. Evercore set a $139.00 price objective on Owens Corning in a research note on Thursday, May 7th. Weiss Ratings cut Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Truist Financial increased their price objective on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Bank of America dropped their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.82.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 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 dated 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 directly owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $121.43 on Monday. The firm has a market capitalization of $9.78 billion, a PE ratio of -18.37, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34. The business’s fifty day moving average price is $118.75 and its 200 day moving average price is $117.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. The firm 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%.Owens Corning’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, sell-side analysts anticipate that Owens Corning Inc will post 9.53 earnings per share 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.