Jag Capital Management buys $13,925,932 stake in Owens Corning (OC)

Owens Corning (OC) : Jag Capital Management scooped up 129,338 additional shares in Owens Corning during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 255,007 shares of Owens Corning which is valued at $13,925,932.Owens Corning makes up approximately 2.67% of Jag Capital Management’s portfolio.

Other Hedge Funds, Including , Rockefeller Financial Services Inc sold out all of its stake in OC during the most recent quarter. The investment firm sold 55 shares of OC which is valued $3,004.Nordea Investment Management Ab boosted its stake in OC in the latest quarter, The investment management firm added 8,799 additional shares and now holds a total of 12,412 shares of Owens Corning which is valued at $683,777. V Wealth Managementllc added OC to its portfolio by purchasing 34,238 company shares during the most recent quarter which is valued at $1,886,171. Owens Corning makes up approx 1.49% of V Wealth Managementllc’s portfolio. Gradient Investments sold out all of its stake in OC during the most recent quarter. The investment firm sold 868 shares of OC which is valued $47,749.

Owens Corning opened for trading at $54.61 and hit $55.31 on the upside on Wednesday, eventually ending the session at $55.09, with a gain of 1.27% or 0.69 points. The heightened volatility saw the trading volume jump to 5,52,197 shares. Company has a market cap of $6,363 M.

On the company’s financial health, Owens Corning reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $1231.00 million for the quarter, compared to analysts expectations of $1237.43 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Owens Corning. Owens Corning was Upgraded by Goldman to ” Neutral” on Jul 12, 2016. Company shares were Reiterated by Wedbush on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 58 from a previous price target of $52 .FBR Capital Initiated Owens Corning on Jun 1, 2016 to “Mkt Perform”, Price Target of the shares are set at $53.

Owens Corning is a holding company. The Company is engaged in composite and building materials systems. 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. The Company operates under three segments: Composites Insulation and Roofing. The Composites segment is comprised of the Company’s Reinforcements and Downstream businesses. Insulation segment includes products such as thermal and acoustical batts loosefill insulation foam sheathing and accessories. The Roofing segment includes products such as laminate and strip asphalt roofing shingles. The Company’s subsidiaries are Owens Corning Sales LLC and Owens Corning Receivables LLC.

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