317 Shares in Owens Corning (NYSE:OC) Acquired by Joseph Group Capital Management

Joseph Group Capital Management bought a new stake in Owens Corning (NYSE:OCGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 317 shares of the construction company’s stock, valued at approximately $1,246,000.

Other large investors have also modified their holdings of the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of Owens Corning in the fourth quarter worth approximately $33,000. UMB Bank N A MO acquired a new position in shares of Owens Corning during the fourth quarter valued at $35,000. Confluence Wealth Services Inc. acquired a new stake in Owens Corning in the fourth quarter worth about $41,000. Moors & Cabot Inc. acquired a new stake in Owens Corning in the 3rd quarter valued at about $50,000. Finally, CWM LLC acquired a new stake in Owens Corning during the 4th quarter worth about $85,000. Hedge funds and other institutional investors own 92.55% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating and set a $91.00 target price for the company. in a research report on Tuesday, April 19th. Jefferies Financial Group boosted their target price on Owens Corning from $136.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, February 17th. Royal Bank of Canada upped their target price on shares of Owens Corning from $97.00 to $105.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 22nd. Barclays lowered their target price on Owens Corning from $111.00 to $100.00 in a report on Thursday, April 28th. Finally, Truist Financial downgraded shares of Owens Corning from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $85.00 in a research note on Tuesday, April 5th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $108.75.

OC traded up $1.20 during trading hours on Friday, hitting $93.22. The company’s stock had a trading volume of 557,566 shares, compared to its average volume of 841,261. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. Owens Corning has a 12 month low of $79.35 and a 12 month high of $109.24. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 0.59 and a beta of 1.37. The business’s 50-day moving average price is $90.77 and its 200-day moving average price is $91.15.

Owens Corning (NYSE:OCGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.42. Owens Corning had a net margin of 12.20% and a return on equity of 24.44%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, analysts forecast that Owens Corning will post 11.65 earnings per share for the current year.

About Owens Corning (Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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