Polaris Greystone Financial Group adds Owens Corning (OC) to its portfolio

Owens Corning (OC) : Polaris Greystone Financial Group added new position in Owens Corning during the most recent quarter end. The investment management firm now holds 7,943 shares of Owens Corning which is valued at $428,684 , the company said in a statement filed on Aug 2, 2016 with the SEC.Owens Corning makes up approximately 0.07% of Polaris Greystone Financial Group’s portfolio.

Other Hedge Funds, Including , Kalos Management added OC to its portfolio by purchasing 4,966 company shares during the most recent quarter which is valued at $268,015. Owens Corning makes up approx 0.20% of Kalos Management’s portfolio.New York State Teachers Retirement System reduced its stake in OC by selling 100 shares or 0.97% in the most recent quarter. The Hedge Fund company now holds 10,200 shares of OC which is valued at $557,022.Eagle Asset Management Inc reduced its stake in OC by selling 446,133 shares or 86.96% in the most recent quarter. The Hedge Fund company now holds 66,907 shares of OC which is valued at $3,685,907. Owens Corning makes up approx 0.02% of Eagle Asset Management Inc’s portfolio.

Owens Corning opened for trading at $53.4 and hit $54.71 on the upside on Monday, eventually ending the session at $54.64, with a gain of 2.21% or 1.18 points. The heightened volatility saw the trading volume jump to 16,70,038 shares. Company has a market cap of $6,270 M.

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. 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 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $57 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *