Foresight Group Ltd Liability Partnership Grows Stock Position in Owens Corning (NYSE:OC)

Foresight Group Ltd Liability Partnership boosted its stake in Owens Corning (NYSE:OC) by 70.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,010 shares of the construction company’s stock after acquiring an additional 2,485 shares during the quarter. Owens Corning comprises about 0.4% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 23rd largest holding. Foresight Group Ltd Liability Partnership’s holdings in Owens Corning were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Seven Eight Capital LP raised its position in shares of Owens Corning by 43.4% in the 2nd quarter. Seven Eight Capital LP now owns 18,461 shares of the construction company’s stock valued at $3,207,000 after purchasing an additional 5,583 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Owens Corning by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 364,473 shares of the construction company’s stock valued at $63,285,000 after acquiring an additional 32,157 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Owens Corning during the 2nd quarter valued at approximately $239,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Owens Corning by 4.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,431 shares of the construction company’s stock valued at $3,693,000 after acquiring an additional 978 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Owens Corning by 23.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 16,098 shares of the construction company’s stock valued at $2,796,000 after acquiring an additional 3,110 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the topic of several research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price target on shares of Owens Corning in a research report on Monday, June 17th. Evercore ISI dropped their price target on Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Royal Bank of Canada upped their price objective on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Trading Up 0.9 %

NYSE:OC opened at $172.33 on Thursday. Owens Corning has a 1 year low of $109.95 and a 1 year high of $191.13. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 3.18 and a beta of 1.41. The business has a fifty day moving average of $167.53 and a 200-day moving average of $169.16. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.37.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the business posted $4.22 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Owens Corning will post 15.38 earnings per share 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.