Keybank National Association OH Acquires New Position in Owens Corning Inc (OC)

Keybank National Association OH acquired a new stake in shares of Owens Corning Inc (NYSE:OC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,950 shares of the construction company’s stock, valued at approximately $800,000.

A number of other hedge funds also recently bought and sold shares of OC. Creative Planning increased its holdings in shares of Owens Corning by 104.3% in the 2nd quarter. Creative Planning now owns 2,043 shares of the construction company’s stock worth $137,000 after purchasing an additional 1,043 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its holdings in shares of Owens Corning by 457.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock worth $141,000 after purchasing an additional 1,888 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Owens Corning by 45.3% in the 1st quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock worth $157,000 after purchasing an additional 798 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Owens Corning by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock worth $163,000 after buying an additional 232 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of Owens Corning by 3.6% in the 2nd quarter. First Bank & Trust now owns 3,024 shares of the construction company’s stock worth $202,000 after buying an additional 104 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

A number of equities analysts have recently issued reports on OC shares. Jefferies Group LLC restated a “buy” rating and issued a $77.00 price target on shares of Owens Corning in a research note on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a research note on Monday, June 19th. Instinet reiterated a “buy” rating and set a $74.00 target price on shares of Owens Corning in a research report on Thursday, June 1st. BidaskClub upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, June 28th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Owens Corning presently has an average rating of “Buy” and a consensus price target of $72.10.

In related news, CFO Michael C. Mcmurray sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $76.52, for a total transaction of $1,071,280.00. Following the transaction, the chief financial officer now owns 40,903 shares of the company’s stock, valued at $3,129,897.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Chambers sold 16,600 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $67.18, for a total transaction of $1,115,188.00. Following the transaction, the insider now directly owns 39,957 shares in the company, valued at approximately $2,684,311.26. The disclosure for this sale can be found here. Insiders have sold 212,866 shares of company stock worth $15,644,970 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Owens Corning Inc (NYSE:OC) opened at 75.22 on Friday. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $76.84. The stock’s 50 day moving average price is $70.10 and its 200-day moving average price is $64.57. The company has a market cap of $8.36 billion, a PE ratio of 21.61 and a beta of 1.04.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, July 26th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. Owens Corning had a net margin of 6.61% and a return on equity of 11.12%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts forecast that Owens Corning Inc will post $4.30 earnings per share for the current year.

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Owens Corning Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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