Owens Corning Inc $OC Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Owens Corning Inc (NYSE:OC) by 105.5% during the 4th quarter, HoldingsChannel reports. The firm owned 141,416 shares of the construction company’s stock after purchasing an additional 72,597 shares during the quarter. Handelsbanken Fonder AB’s holdings in Owens Corning were worth $15,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Owens Corning by 231.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after purchasing an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Owens Corning by 99.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock worth $128,917,000 after purchasing an additional 454,382 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $1,742,000. Rakuten Investment Management Inc. acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $8,135,000. Finally, National Pension Service boosted its holdings in shares of Owens Corning by 25.5% during the 3rd quarter. National Pension Service now owns 95,495 shares of the construction company’s stock worth $13,509,000 after purchasing an additional 19,375 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on OC shares. UBS Group boosted their target price on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. upped their price objective on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price objective on Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Barclays raised their target price on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.82.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $113.41 on Thursday. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The business’s fifty day simple moving average is $113.90 and its 200-day simple moving average is $116.32. The firm has a market cap of $9.13 billion, a PE ratio of -17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 1.35. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

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

Insider Transactions at Owens Corning

In other Owens Corning 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 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 Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by insiders.

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.