Skandinaviska Enskilda Banken AB publ Sells 110,288 Shares of Owens Corning Inc $OC

Skandinaviska Enskilda Banken AB publ cut its position in shares of Owens Corning Inc (NYSE:OC) by 24.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 349,058 shares of the construction company’s stock after selling 110,288 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.42% of Owens Corning worth $49,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Owens Corning during the 2nd quarter valued at $163,719,000. First Trust Advisors LP lifted its position in Owens Corning by 164.6% during the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock valued at $126,618,000 after acquiring an additional 572,770 shares during the period. Amundi boosted its stake in Owens Corning by 92.9% during the second quarter. Amundi now owns 1,086,735 shares of the construction company’s stock worth $157,279,000 after acquiring an additional 523,376 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after purchasing an additional 454,382 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Owens Corning by 17,614.0% during the second quarter. Marshall Wace LLP now owns 422,832 shares of the construction company’s stock valued at $58,148,000 after purchasing an additional 420,445 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on OC shares. Evercore dropped their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research report on Thursday, December 4th. Wells Fargo & Company boosted their target price on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. reduced their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.58.

Owens Corning Trading Down 0.8%

Shares of NYSE:OC opened at $134.16 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $179.82. The company has a market cap of $11.03 billion, a P/E ratio of -23.45, a PEG ratio of 2.81 and a beta of 1.36. The stock’s fifty day moving average price is $121.04 and its 200-day moving average price is $128.38.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. Owens Corning’s payout ratio is currently -55.24%.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.