Owens Corning (NYSE:OC) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in Owens Corning (NYSE:OC) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,640 shares of the construction company’s stock after selling 1,245 shares during the period. Amalgamated Bank owned about 0.08% of Owens Corning worth $10,026,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in Owens Corning in the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning during the fourth quarter worth approximately $27,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Owens Corning by 53.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Owens Corning during the 3rd quarter worth $36,000. Finally, Blue Trust Inc. raised its position in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on OC. Royal Bank of Canada upped their price target on Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Citigroup lifted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Argus boosted their price objective on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Loop Capital boosted their price target on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the transaction, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The disclosure for this sale can be found here. Insiders have sold 11,864 shares of company stock worth $1,819,471 over the last three months. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Shares of NYSE OC traded up $1.67 during mid-day trading on Friday, hitting $174.81. The company had a trading volume of 680,615 shares, compared to its average volume of 636,508. Owens Corning has a 12 month low of $103.41 and a 12 month high of $178.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a market cap of $15.15 billion, a P/E ratio of 14.16, a PEG ratio of 5.19 and a beta of 1.45. The business’s 50-day simple moving average is $162.66 and its 200-day simple moving average is $147.71.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $2.77 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, analysts predict that Owens Corning will post 15.37 earnings per share for the current fiscal year.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.