Victory Capital Management, Inc. has recently announced that it has increased stake in Owens Corning (NYSE:OC) by 6.46%. After grabbing 3.2 million shares, the institutional investor is now in possession of 0.19 million shares of the Industrials Company. The new investment brought the stake of investor firm to 3.55% having worth around $341.98 million. Moreover, Dimensional Fund Advisors LP increased its share by 37793.0 to have a control over 2.41 million shares. And AQR Capital Management LLC raised its holdings to 0.45 million shares by acquiring 2.23 million shares or 2.48% of the stake.
Owens Corning (OC) concluded trading on 05/24/23 at a closing price of $108.22, with 0.99 million shares of worth about $107.27 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 20.70% during that period and on Wednesday the price saw a gain of about 0.09%. Currently the company’s common shares owned by public are about 91.30M shares, out of which, 90.03M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the OC stock and their offered price forecasts bring an average price target of $117.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $145.00 and could fall to a lowest price of $87.00. The stock’s current price level is 7.79% above of average price target set by the analysts, while a rise to estimated low would result in loss of -24.39% for the stock. However, touching the estimated high of $145.00 would mean a gain of 25.37% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 166 times over the past 12 months. They bought 318,641 shares in 111 of the transactions. In 55 selling transactions, insiders dumped 181,271 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Owens Corning iShares Core S&P Mid Cap ETF is currently holding 2.92 million shares of worth totaling $311.49 million. The company recently came buying 10419.0 shares which brought its stake up to 3.24% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 8757.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 2.82 million shares with the mutual fund that have a worth of about $301.1 million. Vanguard Small Cap Index Fund, after selling 2.37 million shares, have now control over 2.64% of the stake in the company. It holds 582.0 shares of worth $253.66 million.
Owens Corning (NYSE: OC) started trading at $110.13, above $2.01 from concluding price of the previous day. However, the stock later moved at a day high price of 110.58, or with a gain of 0.09%. Stock saw a price change of -0.80% in past 5 days and over the past one month there was a price change of 8.27%. Year-to-date (YTD), OC shares are showing a performance of 26.87% which increased to 16.68% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $72.97 but also hit the highest price of $112.17 during that period. The average intraday trading volume for Owens Corning shares is 846.05K. The stock is currently trading 1.79% above its 20-day simple moving average (SMA20), while that difference is up 8.51% for SMA50 and it goes to 17.78% higher than SMA200.
Victory Capital Management, Inc. acquired 3.2 million shares of Owens Corning having value of about $341.98 million. Data submitted at the U.S SEC by Victory Capital Management, Inc. revealed that the firm now holds 0.19 million shares in the company valued at close to $21011345.88, or have control over 6.46% stake in the company. Owens Corning (NYSE: OC) currently have 91.30M outstanding shares and institutions hold larger chunk of about 103.92% of that. Holding of mutual funds in the company is about 57.73% while other institutional holders and individual stake holders have control over 61.43% and 40.59% of the stake respectively.
The stock has a current market capitalization of $9.88B and its 3Y-monthly beta is at 1.41. PE ratio of stock for trailing 12 months is 7.84, while it has posted earnings per share of $13.80 in the same period. Its PEG reads 5.94 and has Quick Ratio of 1.20 while making debt-to-equity ratio of 0.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OC, volatility over the week remained 2.37% while standing at 2.50% over the month.
Analysts are in expectations that Owens Corning (OC) stock would likely to be making an EPS of $3.1 in the current quarter, while forecast for next quarter EPS is $2.77 and it is $11.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.95 which is $3.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $3.83 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 33.10% while it is estimated to increase by 5.18% in next year. EPS is likely to shrink at an annualized rate of 1.32% for next 5-years, compared to annual growth of 31.10% made by the stock over the past 5-years.
Analysts at 18 brokerage firms have issued recommendations for the Owens Corning (OC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 18 Wall Street analysts, 7 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
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