Eurizon Capital SGR S.p.A. purchased a new stake in Owens Corning Inc (NYSE:OC – Free Report) in the 4th quarter, HoldingsChannel reports. The firm purchased 215,730 shares of the construction company’s stock, valued at approximately $24,145,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC boosted its position in Owens Corning by 12.8% during the fourth quarter. Rothschild Investment LLC now owns 4,956 shares of the construction company’s stock worth $555,000 after purchasing an additional 564 shares during the period. Employees Retirement System of Texas bought a new stake in Owens Corning during the fourth quarter worth approximately $101,000. Harbour Investments Inc. boosted its position in Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares during the period. Allstate Corp boosted its position in Owens Corning by 73.1% during the fourth quarter. Allstate Corp now owns 3,991 shares of the construction company’s stock worth $447,000 after purchasing an additional 1,685 shares during the period. Finally, New Age Alpha Advisors LLC boosted its position in Owens Corning by 203.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 58,630 shares of the construction company’s stock worth $6,561,000 after purchasing an additional 39,289 shares during the period. Institutional investors own 88.40% of the company’s stock.
Owens Corning Stock Performance
Owens Corning stock opened at $126.07 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74. The stock has a fifty day moving average price of $115.82 and a two-hundred day moving average price of $116.55. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The firm has a market capitalization of $10.15 billion, a P/E ratio of -19.07, a P/E/G ratio of 2.28 and a beta of 1.35.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on OC shares. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wells Fargo & Company upped their target price on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Truist Financial upped their target price on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their target price on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.82.
Get Our Latest Stock Analysis on Owens Corning
Insider Buying and Selling at Owens Corning
In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.92% of the company’s stock.
About Owens Corning
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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