Owens Corning (OC) : Victory Capital Management Inc scooped up 886,409 additional shares in Owens Corning during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 2,390,203 shares of Owens Corning which is valued at $129,166,570.Owens Corning makes up approximately 0.51% of Victory Capital Management Inc’s portfolio.
Other Hedge Funds, Including , First Eagle Investment Management added OC to its portfolio by purchasing 678,015 company shares during the most recent quarter which is valued at $36,639,931. Owens Corning makes up approx 0.09% of First Eagle Investment Management’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in OC in the latest quarter, The investment management firm added 23,373 additional shares and now holds a total of 174,219 shares of Owens Corning which is valued at $9,313,748. Owens Corning makes up approx 0.03% of State Board Of Administration Of Florida Retirement System’s portfolio.Shell Asset Management Co reduced its stake in OC by selling 2,190 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 38,426 shares of OC which is valued at $2,024,282. Owens Corning makes up approx 0.05% of Shell Asset Management Co’s portfolio.Shinko Asset Management Ltd. reduced its stake in OC by selling 994 shares or 13.6% in the most recent quarter. The Hedge Fund company now holds 6,315 shares of OC which is valued at $344,862.Jag Capital Management boosted its stake in OC in the latest quarter, The investment management firm added 129,338 additional shares and now holds a total of 255,007 shares of Owens Corning which is valued at $13,925,932. Owens Corning makes up approx 2.67% of Jag Capital Management’s portfolio.
Owens Corning closed down -0.22 points or -0.41% at $53.13 with 6,94,296 shares getting traded on Wednesday. Post opening the session at $53.17, the shares hit an intraday low of $52.77 and an intraday high of $53.41 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Owens Corning reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.44 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.85. The company had revenue of $1545.00 million for the quarter, compared to analysts expectations of $1460.09 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.
Many Wall Street Analysts have commented on Owens Corning. Credit Suisse Initiated Owens Corning on Aug 11, 2016 to “Underperform”, Price Target of the shares are set at $51.Company shares were Reiterated by FBR Capital on Jul 29, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 57 from a previous price target of $53 .Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 61 from a previous price target of $55 .
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.