Tredje AP fonden Trims Stock Position in Owens Corning (NYSE:OC)

Tredje AP fonden decreased its stake in Owens Corning (NYSE:OC) by 1.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,969 shares of the construction company’s stock after selling 381 shares during the quarter. Tredje AP fonden’s holdings in Owens Corning were worth $4,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. Avantax Advisory Services Inc. increased its holdings in Owens Corning by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,082 shares of the construction company’s stock valued at $457,000 after buying an additional 69 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Owens Corning by 7.5% in the 1st quarter. GAMMA Investing LLC now owns 1,104 shares of the construction company’s stock valued at $184,000 after purchasing an additional 77 shares in the last quarter. Bessemer Group Inc. raised its holdings in Owens Corning by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock worth $65,000 after purchasing an additional 78 shares during the period. MV Capital Management Inc. boosted its position in Owens Corning by 112.9% during the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Owens Corning by 1.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,348 shares of the construction company’s stock valued at $793,000 after purchasing an additional 94 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their price objective on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Loop Capital lifted their target price on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $184.23.

Owens Corning Trading Up 0.9 %

Shares of Owens Corning stock opened at $172.33 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.37 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $167.53 and its 200-day simple moving average is $169.16. The stock has a market cap of $14.93 billion, a P/E ratio of 13.95, a P/E/G ratio of 3.18 and a beta of 1.41. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $4.22 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict that Owens Corning will post 15.38 EPS for the current fiscal year.

Insider Activity

In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.