Bogle Investment Management L P DE Takes Position in Owens Corning (OC)

Bogle Investment Management L P DE acquired a new position in Owens Corning (NYSE:OC) during the first quarter, Holdings Channel reports. The institutional investor acquired 186,665 shares of the construction company’s stock, valued at approximately $11,455,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock worth $157,000 after buying an additional 798 shares during the last quarter. Penserra Capital Management LLC increased its position in Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after buying an additional 232 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in Owens Corning during the fourth quarter worth about $202,000. Quantitative Systematic Strategies LLC purchased a new position in Owens Corning during the first quarter worth about $203,000. Finally, Cetera Advisors LLC purchased a new position in Owens Corning during the third quarter worth about $209,000.

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

Shares of Owens Corning (NYSE:OC) traded down 0.63% on Tuesday, hitting $63.49. The stock had a trading volume of 956,944 shares. The company has a 50-day moving average of $61.65 and a 200 day moving average of $57.75. Owens Corning has a 52 week low of $46.45 and a 52 week high of $64.57. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 16.64 and a beta of 1.09.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 26th. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.31 billion. Owens Corning had a return on equity of 10.75% and a net margin of 6.92%. Owens Corning’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts predict that Owens Corning will post $4.01 EPS for the current year.

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OC has been the subject of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and set a $71.00 price objective on shares of Owens Corning in a report on Thursday, March 23rd. Nomura initiated coverage on Owens Corning in a report on Wednesday, April 12th. They set a “buy” rating and a $74.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price objective on shares of Owens Corning in a report on Thursday, February 9th. Zelman & Associates upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price objective on shares of Owens Corning in a report on Thursday, February 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Owens Corning has a consensus rating of “Hold” and an average price target of $62.16.

In other news, insider Brian Chambers sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $61.95, for a total value of $619,500.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $2,025,021.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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