Iridian Asset Management Position in Owens Corning (OC) Decreased by $8.77 Million; As Chevron (CVX) Share Price Declined, Bright Rock Capital Management Decreased Its Holding by $875,000

May 18, 2018 - By Migdalia James

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David Cohen decreased its stake in Owens Corning (OC) by 3.04% based on its latest 2017Q4 regulatory filing with the SEC. Iridian Asset Management Llc sold 96,357 shares as the company’s stock declined 11.77% with the market. The hedge fund run by David Cohen held 3.08 million shares of the industrial machinery and components company at the end of 2017Q4, valued at $282.87 million, down from 3.17 million at the end of the previous reported quarter. Iridian Asset Management Llc who had been investing in Owens Corning for a number of months, seems to be less bullish one the $7.27B market cap company. The stock increased 0.20% or $0.13 during the last trading session, reaching $65.7. About 95,914 shares traded. Owens Corning (NYSE:OC) has risen 32.24% since May 18, 2017 and is uptrending. It has outperformed by 20.69% the S&P500.




Bright Rock Capital Management Llc decreased its stake in Chevron Corporation (CVX) by 8.33% based on its latest 2017Q4 regulatory filing with the SEC. Bright Rock Capital Management Llc sold 7,000 shares as the company’s stock declined 8.26% with the market. The institutional investor held 77,000 shares of the integrated oil company at the end of 2017Q4, valued at $9.64M, down from 84,000 at the end of the previous reported quarter. Bright Rock Capital Management Llc who had been investing in Chevron Corporation for a number of months, seems to be less bullish one the $246.27 billion market cap company. The stock decreased 0.46% or $0.59 during the last trading session, reaching $128.87. About 549,625 shares traded. Chevron Corporation (NYSE:CVX) has risen 7.88% since May 18, 2017 and is uptrending. It has underperformed by 3.67% the S&P500.

Investors sentiment decreased to 1.07 in 2017 Q4. Its down 0.19, from 1.26 in 2017Q3. It fall, 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. First Dallas invested in 0.3% or 5,200 shares. Hilltop stated it has 3,208 shares. Aqr Capital Mgmt Ltd Limited Liability Company invested 0.37% in Owens Corning (NYSE:OC). Gargoyle Advisor Lc, a New Jersey-based fund reported 37,345 shares. Cibc Asset invested in 0% or 3,862 shares. Jag Limited Liability Co reported 7,779 shares stake. Raymond James Tru Na stated it has 6,416 shares or 0.04% of all its holdings. Ajo Ltd Partnership, a Pennsylvania-based fund reported 2.06M shares. Vident Advisory Ltd Llc accumulated 40,143 shares. Alliancebernstein Limited Partnership holds 69,275 shares. Glenmede Tru Na has 68,737 shares for 0.03% of their portfolio. Lsv Asset Mgmt reported 0.29% stake. Jennison Associate Lc reported 0.03% of its portfolio in Owens Corning (NYSE:OC). 7,300 were reported by Taylor Asset Mngmt. Aperio Gru Ltd reported 0.06% in Owens Corning (NYSE:OC).

Since March 13, 2018, it had 0 buys, and 2 insider sales for $4.93 million activity. Genis Arnaud also sold $4.84 million worth of Owens Corning (NYSE:OC) on Wednesday, March 14.

Iridian Asset Management Llc, which manages about $11.52B and $11.89B US Long portfolio, upped its stake in Ishares Russell Midcap Index Fund (IWR) by 9,942 shares to 17,312 shares, valued at $3.60 million in 2017Q4, according to the filing. It also increased its holding in Allergan Inc by 78,455 shares in the quarter, for a total of 1.71M shares, and has risen its stake in Tyson Foods Inc (NYSE:TSN).

Analysts await Owens Corning (NYSE:OC) to report earnings on July, 25. They expect $1.45 EPS, up 20.83% or $0.25 from last year’s $1.2 per share. OC’s profit will be $160.52 million for 11.33 P/E if the $1.45 EPS becomes a reality. After $0.80 actual EPS reported by Owens Corning for the previous quarter, Wall Street now forecasts 81.25% EPS growth.

Another recent and important Owens Corning (NYSE:OC) news was published by Seekingalpha.com which published an article titled: “Owens Corning 2018 Q1 – Results – Earnings Call Slides” on April 25, 2018.

Among 25 analysts covering Owens Corning (NYSE:OC), 15 have Buy rating, 0 Sell and 10 Hold. Therefore 60% are positive. Owens Corning had 84 analyst reports since July 23, 2015 according to SRatingsIntel. Jefferies maintained Owens Corning (NYSE:OC) rating on Thursday, July 27. Jefferies has “Buy” rating and $8200 target. RBC Capital Markets maintained Owens Corning (NYSE:OC) on Tuesday, November 14 with “Buy” rating. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Thursday, April 26. The company was maintained on Monday, January 22 by Credit Suisse. On Thursday, September 29 the stock rating was initiated by Wells Fargo with “Market Perform”. The firm has “Equal Weight” rating by Barclays Capital given on Friday, January 6. The rating was downgraded by CL King to “Neutral” on Thursday, October 27. Jefferies maintained the stock with “Buy” rating in Monday, August 28 report. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, July 23. Jefferies maintained Owens Corning (NYSE:OC) on Friday, March 24 with “Buy” rating.

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on July, 27. They expect $1.87 EPS, up 105.49% or $0.96 from last year’s $0.91 per share. CVX’s profit will be $3.57 billion for 17.23 P/E if the $1.87 EPS becomes a reality. After $1.90 actual EPS reported by Chevron Corporation for the previous quarter, Wall Street now forecasts -1.58% negative EPS growth.

Investors sentiment increased to 0.99 in 2017 Q4. Its up 0.04, from 0.95 in 2017Q3. It is positive, as 51 investors sold CVX shares while 686 reduced holdings. 122 funds opened positions while 608 raised stakes. 1.19 billion shares or 0.58% more from 1.18 billion shares in 2017Q3 were reported. Taurus Asset Mgmt Limited Liability Com invested in 31,772 shares or 0.59% of the stock. Vaughan Nelson Inv Lp accumulated 0.02% or 13,830 shares. Coastline owns 31,144 shares or 0.59% of their US portfolio. Hayek Kallen Inv Management stated it has 1.26% in Chevron Corporation (NYSE:CVX). First Bancorp Of Newtown reported 1.25% of its portfolio in Chevron Corporation (NYSE:CVX). Mitsubishi Ufj Securities Commerce invested in 0.21% or 410 shares. Rench Wealth Mngmt has 23,997 shares. Strs Ohio reported 0.97% of its portfolio in Chevron Corporation (NYSE:CVX). Nj State Employees Deferred Compensation Plan accumulated 35,000 shares. Clifford Swan Counsel Limited Liability Company stated it has 1.77% in Chevron Corporation (NYSE:CVX). Financial Bank holds 1.05% or 77,854 shares in its portfolio. Aldebaran Finance Incorporated owns 1.3% invested in Chevron Corporation (NYSE:CVX) for 15,583 shares. Westchester Cap Management Incorporated has invested 0.05% in Chevron Corporation (NYSE:CVX). 28,643 were reported by Cobblestone Cap Advsr Limited Liability Corp New York. Verus Fin holds 3,492 shares.

Since April 17, 2018, it had 0 insider buys, and 8 selling transactions for $48.52 million activity. 12,000 shares were sold by Geagea Joseph C, worth $1.56 million. Breber Pierre R had sold 25,000 shares worth $3.26 million on Monday, May 14. 130,000 shares were sold by Wirth Michael K, worth $16.64 million. Yarrington Patricia E also sold $17.55 million worth of Chevron Corporation (NYSE:CVX) on Friday, May 11.

Chevron Corporation (NYSE:CVX) Institutional Positions Chart

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