Machina Capital S.A.S. Takes Position in Owens Corning (NYSE:OC)

Machina Capital S.A.S. acquired a new position in Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,380 shares of the construction company’s stock, valued at approximately $205,000.

Other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Owens Corning in the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Owens Corning during the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its position in Owens Corning by 53.0% during 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 during the last quarter. BluePath Capital Management LLC acquired a new position in Owens Corning in the 3rd quarter worth about $36,000. Finally, Blue Trust Inc. raised its stake in shares of Owens Corning by 42.2% during the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of OC traded down $2.18 during trading hours on Tuesday, reaching $175.08. The stock had a trading volume of 896,573 shares, compared to its average volume of 674,634. The stock has a market capitalization of $15.17 billion, a PE ratio of 14.35, a PEG ratio of 5.24 and a beta of 1.45. Owens Corning has a 12 month low of $103.65 and a 12 month high of $178.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. The company’s 50-day moving average is $163.26 and its two-hundred day moving average is $148.40.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business posted $2.77 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.37 EPS for the current year.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 7,442 shares of the company’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 sale, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OC. Argus raised their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Royal Bank of Canada boosted their price target 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. Loop Capital lifted their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. cut their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $168.21.

Owens Corning Profile

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.