Skandinaviska Enskilda Banken AB publ Buys 43,180 Shares of Owens Corning (NYSE:OC)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Owens Corning (NYSE:OC) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 716,704 shares of the construction company’s stock after purchasing an additional 43,180 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.83% of Owens Corning worth $124,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings 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 worth $7,214,000 after buying an additional 20,971 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Owens Corning by 66.0% in the fourth quarter. Hsbc Holdings PLC now owns 213,643 shares of the construction company’s stock worth $31,692,000 after purchasing an additional 84,958 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company’s stock valued at $18,741,000 after purchasing an additional 14,011 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Owens Corning by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,827 shares of the construction company’s stock worth $6,348,000 after buying an additional 4,259 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in Owens Corning by 452.5% in the 4th 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 last quarter. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OC shares. UBS Group increased their target price on shares of Owens Corning from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, August 7th. Royal Bank of Canada increased 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. Barclays dropped their price objective on Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, Evercore ISI decreased their target price on Owens Corning from $188.00 to $175.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.23.

Insider Buying and Selling

In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Marcio A. Sandri sold 3,050 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $10,222,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction on 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 in the company, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Performance

Owens Corning stock opened at $178.20 on Friday. The firm’s 50 day simple moving average is $167.63 and its 200 day simple moving average is $169.18. The firm has a market capitalization of $15.44 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Owens Corning has a 1-year low of $109.95 and a 1-year high of $191.13.

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

About Owens Corning

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.