Swiss Life Asset Management Ltd Has $4.59 Million Stock Holdings in Owens Corning Inc $OC

Swiss Life Asset Management Ltd trimmed its position in shares of Owens Corning Inc (NYSE:OCFree Report) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 40,999 shares of the construction company’s stock after selling 6,752 shares during the period. Swiss Life Asset Management Ltd’s holdings in Owens Corning were worth $4,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OC. Ashton Thomas Private Wealth LLC lifted its stake in shares of Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after acquiring an additional 34,106 shares during the period. JPMorgan Chase & Co. lifted 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 worth $128,917,000 after acquiring an additional 454,382 shares during the period. Caprock Group LLC acquired a new position in shares of Owens Corning in the third quarter worth approximately $1,742,000. Rakuten Investment Management Inc. acquired a new position in shares of Owens Corning in the third quarter worth approximately $8,135,000. Finally, National Pension Service lifted its stake in shares of Owens Corning by 25.5% in the third quarter. National Pension Service now owns 95,495 shares of the construction company’s stock worth $13,509,000 after acquiring an additional 19,375 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OC. Royal Bank Of Canada lifted their price objective on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Bank of America cut their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Evercore set a $139.00 price objective on Owens Corning in a research note on Thursday, May 7th. Truist Financial lifted their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $144.82.

View Our Latest Stock Analysis on Owens Corning

Insider Activity at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares in the company, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Trading Down 1.0%

Shares of OC stock opened at $118.66 on Thursday. The company has a market cap of $9.56 billion, a P/E ratio of -17.95, a PEG ratio of 2.17 and a beta of 1.35. The stock has a 50 day simple moving average of $113.73 and a two-hundred day simple moving average of $116.76. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OCGet Free Report) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. Research analysts forecast that Owens Corning Inc will post 9.53 earnings per share for the current year.

About Owens Corning

(Free Report)

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.

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

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