Owens Corning (NYSE:OC) Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of Owens Corning (NYSE:OC) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 280,900 shares of the construction company’s stock after selling 9,000 shares during the quarter. Swiss National Bank owned about 0.32% of Owens Corning worth $41,638,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in OC. Commonwealth Equity Services LLC boosted its holdings in Owens Corning by 36.4% during the third quarter. Commonwealth Equity Services LLC now owns 43,415 shares of the construction company’s stock worth $5,922,000 after buying an additional 11,586 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Owens Corning by 741.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,000 shares of the construction company’s stock valued at $3,547,000 after purchasing an additional 22,910 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Owens Corning by 109.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,342 shares of the construction company’s stock worth $1,002,000 after purchasing an additional 3,831 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Owens Corning during the third quarter worth $325,000. Finally, Brown Advisory Inc. grew its holdings in Owens Corning by 2.1% in the third quarter. Brown Advisory Inc. now owns 11,738 shares of the construction company’s stock valued at $1,601,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In other news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now owns 36,140 shares in the company, valued at $5,384,498.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OC shares. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Loop Capital boosted their price target on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada increased their price objective on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Finally, UBS Group raised their price target on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

Owens Corning Trading Down 1.3 %

NYSE:OC opened at $174.92 on Wednesday. The company has a market cap of $15.16 billion, a PE ratio of 14.16, a P/E/G ratio of 5.24 and a beta of 1.45. The business’s 50 day moving average is $163.78 and its two-hundred day moving average is $148.77. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52 week low of $103.65 and a 52 week high of $178.33.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business posted $2.77 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Owens Corning will post 15.37 EPS for the current year.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.