Owens Corning Inc $OC Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its stake in Owens Corning Inc (NYSE:OC) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,112 shares of the construction company’s stock after selling 6,084 shares during the period. Great Lakes Advisors LLC’s holdings in Owens Corning were worth $27,543,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of OC. Norges Bank acquired a new stake in shares of Owens Corning in the fourth quarter valued at $119,748,000. Clean Energy Transition LLP acquired a new stake in shares of Owens Corning in the third quarter valued at $75,203,000. JPMorgan Chase & Co. raised its stake in shares of Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after acquiring an additional 454,382 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Owens Corning by 65.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,787 shares of the construction company’s stock valued at $160,810,000 after acquiring an additional 451,547 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Owens Corning by 70.9% in the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock valued at $132,102,000 after acquiring an additional 398,440 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE:OC opened at $121.62 on Friday. The firm has a market capitalization of $9.79 billion, a PE ratio of -18.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.34. The business’s fifty day moving average price is $118.47 and its 200 day moving average price is $117.85. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, sell-side analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Insider Transactions at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on OC. Weiss Ratings cut Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Barclays increased their target price on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, May 11th. The Goldman Sachs Group increased their target price on Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Bank of America dropped their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.82.

Owens Corning Company 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.