BNP Paribas Financial Markets lifted its holdings in shares of Owens Corning Inc (NYSE:OC – Free Report) by 178.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 186,652 shares of the construction company’s stock after acquiring an additional 119,566 shares during the period. BNP Paribas Financial Markets’ holdings in Owens Corning were worth $20,888,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Pitcairn Co. grew its position in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares during the period. Viawealth LLC grew its position in shares of Owens Corning by 3.6% during the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after buying an additional 88 shares during the period. Pallas Capital Advisors LLC grew its holdings in Owens Corning by 2.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock valued at $447,000 after purchasing an additional 104 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Owens Corning by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company’s stock valued at $1,626,000 after purchasing an additional 117 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Owens Corning by 4.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,589 shares of the construction company’s stock valued at $366,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on OC. Truist Financial boosted their price objective on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Bank of America decreased their price objective on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut shares of Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Finally, UBS Group boosted their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.82.
Insiders Place Their Bets
In other news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s 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 sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.
Owens Corning Stock Performance
Shares of OC stock opened at $119.16 on Friday. The company’s fifty day simple moving average is $117.38 and its 200-day simple moving average is $117.17. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The firm has a market cap of $9.60 billion, a PE ratio of -18.03, a P/E/G ratio of 2.18 and a beta of 1.34. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42.
Owens Corning (NYSE:OC – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 earnings per share. Equities research analysts expect that Owens Corning Inc will post 9.53 EPS for the current fiscal year.
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.
Read More
- Five stocks we like better than Owens Corning
- AI Server Earnings: Wall Street Sees One Clear Standout
- Navitas: NVIDIA’s AI Power Broker?
- A Lulu of a Miss Sends Lululemon to New Lows—Look Out Below
- NVIDIA’s New Power Play: Why Fluence Is Surging
Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning Inc (NYSE:OC – Free Report).
Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.
