Promethos Capital LLC Has $5.48 Million Stake in Owens Corning (NYSE:OC)

Promethos Capital LLC boosted its stake in shares of Owens Corning (NYSE:OC) by 83.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,517 shares of the construction company’s stock after buying an additional 14,320 shares during the quarter. Owens Corning makes up approximately 2.0% of Promethos Capital LLC’s portfolio, making the stock its 17th biggest position. Promethos Capital LLC’s holdings in Owens Corning were worth $5,475,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Owens Corning by 102.0% during the second quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company’s stock valued at $7,214,000 after acquiring an additional 20,971 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Owens Corning by 66.0% during the 4th quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock valued at $31,692,000 after purchasing an additional 84,958 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Owens Corning by 14.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock worth $18,741,000 after purchasing an additional 14,011 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Owens Corning by 11.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock valued at $6,348,000 after buying an additional 4,259 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its stake in Owens Corning by 452.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,129 shares of the construction company’s stock valued at $2,835,000 after buying an additional 15,667 shares during the period. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OC. Royal Bank of Canada boosted their target price on shares of Owens Corning from $211.00 to $213.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Evercore ISI cut 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 research report on Wednesday, August 7th. UBS Group raised their target price on Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.23.

Owens Corning Trading Up 3.4 %

Shares of OC stock opened at $178.20 on Friday. The company has a 50 day moving average of $167.63 and a 200-day moving average of $169.18. Owens Corning has a 12-month low of $109.95 and a 12-month high of $191.13. The firm has a market cap of $15.44 billion, a P/E ratio of 14.43, a PEG ratio of 3.18 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 0.91.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, beating the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.22 earnings per share. Sell-side analysts anticipate that Owens Corning will post 15.38 earnings per share for the current year.

Insider Buying and Selling

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at approximately $5,491,854.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcio A. Sandri sold 3,050 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now owns 60,130 shares in the company, valued at approximately $10,222,100. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

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.