15 Small-Cap Manufacturing Stocks Hedge Funds Are Buying

4. Owens Corning (NYSE:OC)

Market Capitalization as of April 25: $12.32 billion

Number of Hedge Fund Holders: 48

Owens Corning (NYSE:OC) manufactures residential and commercial building products through four segments: Roofing, Insulation, Doors, and Composites. The company offers laminate and strip asphalt roofing shingles, roofing components, and oxidized asphalt. It also provides high, mid, and low temperature products.

In Q4 2024, the company’s Roofing segment made $912 million in sales, which was a slight decrease from the prior year. However, the segment continued to experience demand for its shingles (elements used as a roof covering to create a waterproof barrier) and achieved positive price realization. Notably, the US asphalt shingle market volume was up 1% year-over-year, and Owens Corning’s US shingle volume was in line with this market growth.

In Q1 2025, the company anticipates revenue for the legacy roofing business to be in line with the prior year, with market shipments expected to be flat/slightly down. Owens Corning’s (NYSE:OC) is also making ongoing investments in shingle capacity, which include a new laminate shingle manufacturing facility expected to begin production in 2027.