Vident Investment Advisory LLC Has $2.37 Million Stake in Owens Corning (OC)

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Vident Investment Advisory LLC grew its position in Owens Corning (NYSE:OC) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 37,334 shares of the construction company’s stock after buying an additional 1,028 shares during the period. Vident Investment Advisory LLC’s holdings in Owens Corning were worth $2,366,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OC. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Owens Corning in the 2nd quarter valued at $127,000. Synovus Financial Corp boosted its stake in Owens Corning by 2,016.9% during the second quarter. Synovus Financial Corp now owns 3,133 shares of the construction company’s stock worth $198,000 after acquiring an additional 2,985 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in Owens Corning during the second quarter worth $218,000. IFM Investors Pty Ltd bought a new position in Owens Corning during the second quarter worth $225,000. Finally, Eqis Capital Management Inc. bought a new position in Owens Corning during the second quarter worth $232,000.

Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Owens Corning from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Seaport Global Securities set a $72.00 target price on shares of Owens Corning and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research lowered shares of Owens Corning from a “buy” rating to a “sell” rating in a research note on Monday, July 9th. Northcoast Research reissued a “buy” rating and set a $81.00 target price on shares of Owens Corning in a research note on Friday, July 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price on shares of Owens Corning in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Owens Corning has a consensus rating of “Hold” and a consensus target price of $80.11.

Owens Corning stock opened at $59.79 on Friday. Owens Corning has a 1-year low of $55.39 and a 1-year high of $96.52. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.70 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 1.59.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, July 25th. The construction company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.28). Owens Corning had a net margin of 4.47% and a return on equity of 11.72%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. equities research analysts predict that Owens Corning will post 5.27 EPS for the current year.

In other Owens Corning news, Director W Howard Morris sold 1,514 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $58.47, for a total value of $88,523.58. Following the transaction, the director now directly owns 36,332 shares of the company’s stock, valued at $2,124,332.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

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

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