Owens Corning (NYSE:OC) Shares Sold by River Global Investors LLP

River Global Investors LLP decreased its stake in shares of Owens Corning (NYSE:OC) by 35.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,656 shares of the construction company’s stock after selling 11,706 shares during the quarter. River Global Investors LLP’s holdings in Owens Corning were worth $3,210,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in shares of Owens Corning during the 4th quarter worth approximately $1,791,000. Voss Capital LLC purchased a new position in shares of Owens Corning in the fourth quarter valued at $5,929,000. Louisiana State Employees Retirement System acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $3,706,000. Federated Hermes Inc. boosted its stake in shares of Owens Corning by 11.6% during the fourth quarter. Federated Hermes Inc. now owns 530,802 shares of the construction company’s stock valued at $78,681,000 after acquiring an additional 55,263 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Owens Corning by 97.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock worth $3,110,000 after purchasing an additional 11,241 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial lifted their price objective on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Argus increased their price target on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Citigroup raised their price target on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Loop Capital increased their price target on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $1.67 during trading on Friday, reaching $174.81. The stock had a trading volume of 680,615 shares, compared to its average volume of 636,508. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $162.66 and a two-hundred day simple moving average of $147.71. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 5.19 and a beta of 1.45. Owens Corning has a 52 week low of $103.41 and a 52 week high of $178.24.

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

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the 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 in the company, valued at $5,384,498.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,864 shares of company stock worth $1,819,471. 0.89% of the stock is currently owned by company insiders.

Owens Corning Profile

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.