Owens Corning Inc $OC Shares Sold by Swedbank AB

Swedbank AB trimmed its position in Owens Corning Inc (NYSE:OC) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 293,168 shares of the construction company’s stock after selling 15,823 shares during the quarter. Swedbank AB’s holdings in Owens Corning were worth $32,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd acquired a new stake in Owens Corning in the fourth quarter worth approximately $1,202,000. Guinness Asset Management LTD increased its holdings in shares of Owens Corning by 24.9% in the fourth quarter. Guinness Asset Management LTD now owns 63,039 shares of the construction company’s stock valued at $7,120,000 after buying an additional 12,573 shares in the last quarter. LSV Asset Management increased its holdings in shares of Owens Corning by 1.0% in the fourth quarter. LSV Asset Management now owns 1,463,671 shares of the construction company’s stock valued at $163,799,000 after buying an additional 14,109 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Owens Corning by 1,173.3% in the fourth quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock valued at $43,000 after buying an additional 352 shares in the last quarter. Finally, Fortis Group Advisors LLC bought a new position in shares of Owens Corning in the fourth quarter valued at $790,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $117.53 on Monday. The company’s fifty day moving average is $114.29 and its two-hundred day moving average is $116.19. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42. The company has a market cap of $9.46 billion, a P/E ratio of -17.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $2.97 EPS. The company’s revenue was down 10.5% on a year-over-year basis. Equities analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America dropped their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Truist Financial upped their price target on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their price target on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Barclays upped their price target on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.

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.