New York State Teachers Retirement System Lowers Stake in Owens Corning Inc $OC

New York State Teachers Retirement System lessened its position in shares of Owens Corning Inc (NYSE:OC – Free Report) by 20.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 45,588 shares of the construction company’s stock after selling 11,958 shares during the quarter. New York State Teachers Retirement System’s holdings in Owens Corning were worth $5,102,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OC. Clean Energy Transition LLP purchased a new stake in Owens Corning during the third quarter valued at about $75,203,000. JPMorgan Chase & Co. grew 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 valued at $128,917,000 after acquiring an additional 454,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Owens Corning by 65.9% in 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 during the period. AQR Capital Management LLC boosted its position in shares of Owens Corning by 70.9% in 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 during the period. Finally, First Trust Advisors LP boosted its position in shares of Owens Corning by 27.0% in the third quarter. First Trust Advisors LP now owns 1,169,485 shares of the construction company’s stock worth $165,435,000 after buying an additional 248,759 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.0%

NYSE:OC opened at $122.92 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.42. The business’s 50-day simple moving average is $113.92 and its 200 day simple moving average is $117.03. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of -19.21, a price-to-earnings-growth ratio of 2.08 and a beta of 1.35.

Owens Corning (NYSE:OC – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Owens Corning Inc will post 9.45 earnings per share for the current fiscal year.

Trending Headlines about Owens Corning

Here are the key news stories impacting Owens Corning this week:

• Positive Sentiment: Q1 EPS beat — OC reported $1.22 GAAP/adjusted EPS versus a $1.01 consensus, showing better-than-expected profitability on a per-share basis and helping sentiment. Article Title
• Positive Sentiment: Q2 revenue guidance appears set above consensus (roughly $2.6B–$2.7B vs. ~$2.5B consensus), which supports upside expectations for near-term revenue recovery. (Company guidance and slide deck published with the results.) Slide Deck / Guidance
• Positive Sentiment: Strategic update — Owens Corning says it completed a portfolio shift toward branded building products, positioning the business for higher-margin branded growth over time. That repositioning is being framed as a positive long-term structural move. Press Release
• Neutral Sentiment: Full materials and call transcript available — management’s prepared remarks and the analyst Q&A (useful for modeling) are posted, so investors can drill into segment details and margin drivers. Earnings Call Transcript
• Neutral Sentiment: Analyst consensus price target sits around $145.09, implying upside from current levels if guidance and margin progression hold. Analyst PT Summary
• Negative Sentiment: Revenue and EPS compression — net sales from continuing operations declined ~10% YoY to ~$2.3B and GAAP EPS from continuing operations fell materially versus prior-year $2.97, highlighting demand softness/cost mix pressures in the quarter. Earnings Release
• Negative Sentiment: Mixed margins and accounting effects — reported net margin metrics are weak (low singled-digit net margin / some negative net-margin framing in certain reports), and GAAP diluted EPS from continuing ops ($0.47) trails adjusted figures, which can complicate near-term investor interpretation. MarketBeat Summary

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OC shares. Citigroup decreased their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Wells Fargo & Company upped their target price on Owens Corning from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. UBS Group upped their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Evercore set a $130.00 target price on Owens Corning in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.09.

Get Our Latest Stock Report on OC

Owens Corning Company Profile

(Free Report)

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.

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