Victory Capital Management Inc. Buys 35,530 Shares of Owens Corning (NYSE:OC)

Victory Capital Management Inc. grew its stake in shares of Owens Corning (NYSE:OC) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,937 shares of the construction company’s stock after buying an additional 35,530 shares during the period. Victory Capital Management Inc. owned 1.67% of Owens Corning worth $219,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in shares of Owens Corning in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC grew its holdings in shares of Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Owens Corning in the third quarter valued at $36,000. Finally, Blue Trust Inc. grew 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 in the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value 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 $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The disclosure for this sale can be found here. Insiders sold 12,572 shares of company stock worth $1,928,312 over the last three months. 0.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on OC shares. 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 report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Truist Financial lifted their price objective on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. dropped their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Finally, Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Stock Down 0.1 %

NYSE:OC opened at $168.06 on Thursday. Owens Corning has a twelve month low of $103.41 and a twelve month high of $173.65. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 5.26 and a beta of 1.45. The stock has a fifty day simple moving average of $161.05 and a 200-day simple moving average of $147.07. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. Analysts anticipate that Owens Corning will post 14.74 EPS for the current year.

About Owens Corning

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.