Owens Corning Inc $OC Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in shares of Owens Corning Inc (NYSE:OC) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 246,112 shares of the construction company’s stock after selling 6,084 shares during the quarter. Great Lakes Advisors LLC owned about 0.30% of Owens Corning worth $27,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Geneos Wealth Management Inc. lifted its holdings in shares of Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC acquired a new position in Owens Corning in the 2nd quarter worth about $277,000. EverSource Wealth Advisors LLC increased its stake in Owens Corning by 1,433.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the construction company’s stock worth $175,000 after buying an additional 1,190 shares in the last quarter. Cerity Partners LLC increased its stake in Owens Corning by 294.3% during the 2nd quarter. Cerity Partners LLC now owns 17,372 shares of the construction company’s stock worth $2,389,000 after buying an additional 12,966 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in Owens Corning by 12.2% during the 2nd quarter. Bank of Nova Scotia now owns 3,059 shares of the construction company’s stock worth $421,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

OC stock opened at $121.62 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 business has a 50 day simple moving average of $118.47 and a 200-day simple moving average of $117.85. The firm has a market capitalization of $9.79 billion, a PE ratio of -18.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.34. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping 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 company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of Owens Corning 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank Of Canada boosted 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 for the company in a research note on Monday, April 20th. Truist Financial boosted their price objective on Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Barclays boosted their price objective 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, JPMorgan Chase & Co. boosted their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Owens Corning 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.