Ethic Inc. Sells 4,890 Shares of Owens Corning Inc $OC

Ethic Inc. trimmed its position in Owens Corning Inc (NYSE:OC) by 60.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,219 shares of the construction company’s stock after selling 4,890 shares during the quarter. Ethic Inc.’s holdings in Owens Corning were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in Owens Corning by 59.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,572 shares of the construction company’s stock worth $400,000 after purchasing an additional 1,337 shares in the last quarter. Davis Selected Advisers grew its position in Owens Corning by 15.1% in the 4th quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after purchasing an additional 269,216 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Owens Corning by 72.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 2,528 shares of the construction company’s stock worth $283,000 after purchasing an additional 1,066 shares in the last quarter. Verity Asset Management Inc. grew its position in Owens Corning by 62.6% in the 4th quarter. Verity Asset Management Inc. now owns 2,815 shares of the construction company’s stock worth $315,000 after purchasing an additional 1,084 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Owens Corning by 0.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,703 shares of the construction company’s stock valued at $3,100,000 after acquiring an additional 211 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Barclays increased their target price on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $125.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Evercore set a $139.00 target price on shares of Owens Corning in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.82.

Owens Corning Stock Down 5.7%

Owens Corning stock opened at $114.19 on Friday. The company has a market capitalization of $9.20 billion, a P/E ratio of -17.28, a P/E/G ratio of 2.07 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. The firm has a 50 day moving average price of $113.80 and a 200-day moving average price of $116.69. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42.

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 analysts’ consensus estimates of $1.01 by $0.21. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 EPS. As a group, equities analysts predict that Owens Corning Inc will post 9.53 EPS for the current year.

Insider Activity at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.