Swiss National Bank lessened its position in shares of Owens Corning (NYSE:OC) by 13.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,400 shares of the construction company’s stock after selling 54,800 shares during the period. Swiss National Bank owned about 0.32% of Owens Corning worth $28,574,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Owens Corning by 122.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,327 shares of the construction company’s stock valued at $1,041,000 after buying an additional 6,227 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Owens Corning by 23.1% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,450 shares of the construction company’s stock valued at $684,000 after buying an additional 1,400 shares in the last quarter. Westpac Banking Corp acquired a new position in shares of Owens Corning in the 4th quarter valued at $648,000. BKD Wealth Advisors LLC boosted its holdings in shares of Owens Corning by 17.3% in the 4th quarter. BKD Wealth Advisors LLC now owns 5,674 shares of the construction company’s stock valued at $522,000 after buying an additional 836 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Owens Corning in the 4th quarter valued at $634,000. Institutional investors own 94.01% of the company’s stock.
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Several research analysts have recently issued reports on OC shares. Goldman Sachs cut shares of Owens Corning from a “buy” rating to a “neutral” rating and set a $69.00 target price for the company. in a report on Wednesday, April 4th. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Credit Suisse Group reiterated an “outperform” rating and issued a $110.00 price target (up previously from $95.00) on shares of Owens Corning in a research report on Monday, January 22nd. They noted that the move was a valuation call. Royal Bank of Canada set a $102.00 price target on shares of Owens Corning and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Nomura upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $87.28.
OC stock opened at $66.00 on Friday. Owens Corning has a 12 month low of $60.62 and a 12 month high of $96.52. The firm has a market capitalization of $7.26 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.91.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 25th. The construction company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.16). The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Owens Corning had a return on equity of 11.95% and a net margin of 4.24%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. equities research analysts forecast that Owens Corning will post 5.54 earnings per share for the current fiscal year.
In other Owens Corning news, insider Arnaud Genis sold 59,541 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $81.32, for a total transaction of $4,841,874.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ava Harter sold 1,100 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $84.00, for a total transaction of $92,400.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Owens Corning Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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