Owens Corning (NYSE:OC) Stock Position Increased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its position in Owens Corning (NYSE:OC) by 1,348.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,172 shares of the construction company’s stock after purchasing an additional 24,365 shares during the period. Balyasny Asset Management L.P.’s holdings in Owens Corning were worth $4,458,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its holdings in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its holdings in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 0.7 %

NYSE OC opened at $136.43 on Friday. The company has a market capitalization of $11.60 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $141.20 and its 200-day simple moving average is $167.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.40 EPS. As a group, sell-side analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

OC has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Owens Corning from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada decreased their target price on Owens Corning from $199.00 to $184.00 and set an “outperform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price for the company. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.55.

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.