Commerzbank Aktiengesellschaft FI reduced its position in Owens Corning Inc (NYSE:OC) by 65.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,506 shares of the construction company’s stock after selling 6,521 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Owens Corning were worth $235,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Creative Planning lifted its stake in Owens Corning by 104.3% in the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock valued at $137,000 after purchasing an additional 1,043 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its holdings in Owens Corning by 457.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after acquiring an additional 1,888 shares during the period. Penserra Capital Management LLC raised its holdings in Owens Corning by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after acquiring an additional 232 shares during the period. First Bank & Trust raised its holdings in Owens Corning by 3.6% in the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock valued at $202,000 after acquiring an additional 104 shares during the period. Finally, American Trust Investment Advisors LLC bought a new position in Owens Corning in the 1st quarter valued at about $212,000. Institutional investors and hedge funds own 96.78% of the company’s stock.
Owens Corning Inc (NYSE:OC) opened at 74.94 on Wednesday. The company has a market capitalization of $8.33 billion, a PE ratio of 21.53 and a beta of 1.04. The company has a 50-day moving average of $69.28 and a 200-day moving average of $64.29. Owens Corning Inc has a 52 week low of $46.45 and a 52 week high of $76.84.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. Owens Corning’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. On average, equities research analysts anticipate that Owens Corning Inc will post $4.29 EPS for the current year.
In related news, CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the sale, the chief financial officer now owns 40,903 shares of the company’s stock, valued at approximately $3,129,897.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kelly Schmidt sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $70.35, for a total transaction of $102,851.70. The disclosure for this sale can be found here. Insiders have sold a total of 84,166 shares of company stock worth $5,978,205 in the last ninety days. 1.80% of the stock is currently owned by insiders.
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Several research analysts have weighed in on the stock. KeyCorp reissued a “buy” rating and issued a $84.00 price target on shares of Owens Corning in a report on Wednesday. SunTrust Banks, Inc. reissued a “hold” rating on shares of Owens Corning in a report on Tuesday. Instinet cut shares of Owens Corning from a “buy” rating to a “neutral” rating and increased their price target for the company from $74.00 to $79.00 in a report on Monday. Nomura reissued a “neutral” rating and issued a $79.00 price target on shares of Owens Corning in a report on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a report on Friday, September 1st. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $72.10.
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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