Clean Energy Transition LLP lifted its position in shares of Owens Corning Inc (NYSE:OC – Free Report) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 563,542 shares of the construction company’s stock after purchasing an additional 31,924 shares during the quarter. Owens Corning accounts for about 5.3% of Clean Energy Transition LLP’s holdings, making the stock its 5th largest holding. Clean Energy Transition LLP’s holdings in Owens Corning were worth $63,066,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of OC. Itau Unibanco Holding S.A. purchased a new position in shares of Owens Corning during the 4th quarter valued at about $29,000. Harbour Investments Inc. grew its position in Owens Corning by 66.5% during the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning during the 4th quarter worth approximately $37,000. Measured Wealth Private Client Group LLC bought a new position in Owens Corning during the 3rd quarter worth approximately $42,000. Finally, Global Retirement Partners LLC grew its position in Owens Corning by 1,173.3% during the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after acquiring an additional 352 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently issued reports on OC. The Goldman Sachs Group raised their price target on Owens Corning from $125.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings lowered Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Bank of America reduced their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Royal Bank Of Canada raised their price target on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.82.
Insider Buying and Selling
In other news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction that occurred 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 completion of the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by company insiders.
Owens Corning Price Performance
Shares of OC stock opened at $121.43 on Friday. The firm has a market cap of $9.78 billion, a P/E ratio of -18.37, a P/E/G ratio of 2.20 and a beta of 1.34. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42. The business’s 50 day moving average price is $118.75 and its 200-day moving average price is $117.88. 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 (NYSE:OC – Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.97 EPS. On average, equities research analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current year.
Owens Corning Company Profile
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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