Barometer Capital Management INC Stake in Owens Corning (OC) Lowered by $3.26 Million as Stock Declined

April 21, 2018 - By wolcottdaily

Owens Corning (NYSE:OC) LogoInvestors sentiment decreased to 1.07 in 2017 Q4. Its down 0.19, from 1.26 in 2017Q3. It worsened, as 32 investors sold OC shares while 135 reduced holdings. 71 funds opened positions while 107 raised stakes. 99.29 million shares or 1.88% less from 101.20 million shares in 2017Q3 were reported. 316,261 are owned by California Public Employees Retirement Sys. Bluemountain Mgmt Ltd Limited Liability Company invested in 0.27% or 143,093 shares. Iridian Asset Ltd Llc Ct, Connecticut-based fund reported 3.08M shares. Jpmorgan Chase Company reported 0.01% of its portfolio in Owens Corning (NYSE:OC). Aperio Gp Ltd Liability Corporation has invested 0.06% in Owens Corning (NYSE:OC). 4,873 are owned by Oppenheimer Asset Management. Natixis Asset Management holds 0.24% or 23,617 shares. Parametric Portfolio Associates Ltd Liability invested 0.03% of its portfolio in Owens Corning (NYSE:OC). Comerica Bank holds 0% or 5,287 shares in its portfolio. 78,425 were reported by Skylands Capital. Us Savings Bank De, Minnesota-based fund reported 9,067 shares. The Ontario – Canada-based Picton Mahoney Asset has invested 0.09% in Owens Corning (NYSE:OC). Bluestein R H And Co has 5,000 shares for 0.02% of their portfolio. Sumitomo Mitsui Asset Management Ltd owns 7,000 shares or 0.01% of their US portfolio. Strs Ohio stated it has 0% of its portfolio in Owens Corning (NYSE:OC).

Since March 13, 2018, it had 0 insider buys, and 2 selling transactions for $4.93 million activity. 1,100 shares were sold by Harter Ava, worth $92,400 on Tuesday, March 13.

Barometer Capital Management Inc decreased its stake in Owens Corning (OC) by 13.37% based on its latest 2017Q4 regulatory filing with the SEC. Barometer Capital Management Inc sold 35,800 shares as the company’s stock declined 11.77% with the market. The hedge fund held 231,900 shares of the industrial machinery and components company at the end of 2017Q4, valued at $21.32 million, down from 267,700 at the end of the previous reported quarter. Barometer Capital Management Inc who had been investing in Owens Corning for a number of months, seems to be less bullish one the $8.63B market cap company. The stock decreased 1.28% or $1 during the last trading session, reaching $77.21. About 1.62M shares traded or 43.65% up from the average. Owens Corning (NYSE:OC) has risen 32.24% since April 21, 2017 and is uptrending. It has outperformed by 20.69% the S&P500.

Barometer Capital Management Inc, which manages about $2.58B and $1.11B US Long portfolio, upped its stake in United Rentals Inc (NYSE:URI) by 30,600 shares to 62,200 shares, valued at $10.69M in 2017Q4, according to the filing. It also increased its holding in Bank Of America Corp (NYSE:BAC) by 479,820 shares in the quarter, for a total of 988,220 shares, and has risen its stake in Blackrock Inc (NYSE:BLK).

Analysts await Owens Corning (NYSE:OC) to report earnings on April, 25 before the open. They expect $0.96 earnings per share, up 12.94 % or $0.11 from last year’s $0.85 per share. OC’s profit will be $107.24M for 20.11 P/E if the $0.96 EPS becomes a reality. After $1.11 actual earnings per share reported by Owens Corning for the previous quarter, Wall Street now forecasts -13.51 % negative EPS growth.

Owens Corning (NYSE:OC) Ratings Coverage

Among 13 analysts covering Owens-Corning (NYSE:OC), 9 have Buy rating, 0 Sell and 4 Hold. Therefore 69% are positive. Owens-Corning had 18 analyst reports since October 26, 2017 according to SRatingsIntel. The rating was upgraded by Seaport Global on Thursday, January 11 to “Buy”. The firm has “Buy” rating given on Thursday, January 11 by KeyBanc Capital Markets. The rating was maintained by RBC Capital Markets with “Buy” on Thursday, October 26. The firm has “Top Pick” rating given on Monday, December 4 by RBC Capital Markets. The firm earned “Buy” rating on Monday, February 5 by Stifel Nicolaus. On Monday, January 22 the stock rating was maintained by Credit Suisse with “Buy”. As per Monday, January 8, the company rating was maintained by Northcoast. The firm has “Outperform” rating given on Friday, November 17 by Credit Suisse. The company was maintained on Tuesday, October 31 by KeyBanc Capital Markets. The firm has “Hold” rating given on Thursday, October 26 by SunTrust.

Owens Corning (NYSE:OC) Institutional Positions Chart

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