Thrivent Financial for Lutherans Grows Position in Owens Corning Inc $OC

Thrivent Financial for Lutherans grew its stake in shares of Owens Corning Inc (NYSE:OC) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,404 shares of the construction company’s stock after buying an additional 6,030 shares during the period. Thrivent Financial for Lutherans’ holdings in Owens Corning were worth $2,843,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OC. Clean Energy Transition LLP purchased a new position in Owens Corning during the third quarter worth $75,203,000. JPMorgan Chase & Co. increased its position in Owens Corning by 99.4% during the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after buying an additional 454,382 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Owens Corning by 65.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,787 shares of the construction company’s stock worth $160,810,000 after buying an additional 451,547 shares in the last quarter. AQR Capital Management LLC increased its position in Owens Corning by 70.9% during the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after buying an additional 398,440 shares in the last quarter. Finally, Davis Selected Advisers increased its position in Owens Corning by 15.1% during the fourth quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after buying an additional 269,216 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $117.53 on Monday. The company has a market cap of $9.46 billion, a P/E ratio of -17.78, a P/E/G ratio of 2.13 and a beta of 1.35. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The business has a fifty day simple moving average of $114.29 and a 200-day simple moving average of $116.19.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 earnings per share. Equities research analysts forecast that Owens Corning Inc will post 9.53 EPS for the current year.

Analyst Ratings Changes

OC has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Bank of America dropped their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Truist Financial lifted their price objective on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $144.82.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.