New York State Common Retirement Fund Has $44.83 Million Stake in Owens Corning Inc (OC)

New York State Common Retirement Fund lowered its position in Owens Corning Inc (NYSE:OC) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 579,559 shares of the construction company’s stock after selling 66,561 shares during the period. New York State Common Retirement Fund owned approximately 0.52% of Owens Corning worth $44,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OC. Boston Partners purchased a new position in shares of Owens Corning in the 2nd quarter worth approximately $26,195,000. FMR LLC boosted its stake in Owens Corning by 118.4% in the 2nd quarter. FMR LLC now owns 572,911 shares of the construction company’s stock worth $38,339,000 after purchasing an additional 310,559 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Owens Corning by 213.0% in the 3rd quarter. Principal Financial Group Inc. now owns 436,865 shares of the construction company’s stock worth $33,792,000 after purchasing an additional 297,311 shares in the last quarter. LSV Asset Management boosted its stake in Owens Corning by 21.2% in the 2nd quarter. LSV Asset Management now owns 1,680,100 shares of the construction company’s stock worth $112,432,000 after purchasing an additional 294,400 shares in the last quarter. Finally, Alleghany Corp DE acquired a new stake in Owens Corning in the 2nd quarter worth approximately $16,061,000. 94.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Owens Corning Inc (NYSE OC) traded down $2.25 during midday trading on Thursday, reaching $86.65. 1,546,300 shares of the company’s stock traded hands, compared to its average volume of 1,060,353. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.66. Owens Corning Inc has a twelve month low of $50.77 and a twelve month high of $91.40. The firm has a market cap of $9,889.33, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.09.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. sell-side analysts forecast that Owens Corning Inc will post 4.33 earnings per share for the current fiscal year.

In related news, Chairman Michael H. Thaman sold 130,700 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $74.95, for a total value of $9,795,965.00. Following the completion of the transaction, the chairman now directly owns 847,992 shares in the company, valued at approximately $63,557,000.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Ava Harter sold 487 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $81.96, for a total transaction of $39,914.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,633 shares of company stock valued at $22,063,967. Company insiders own 1.80% of the company’s stock.

OC has been the subject of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating and issued a $82.00 target price on shares of Owens Corning in a research note on Friday, October 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 target price on shares of Owens Corning in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating on shares of Owens Corning in a research note on Tuesday, October 3rd. KeyCorp reiterated a “buy” rating and issued a $84.00 target price on shares of Owens Corning in a research note on Wednesday, September 13th. Finally, Bank of America lifted their target price on shares of Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $80.14.

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Owens Corning Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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