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.
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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