Vanguard Personalized Indexing Management LLC Boosts Position in Owens Corning (NYSE:OC)

Vanguard Personalized Indexing Management LLC lifted its position in Owens Corning (NYSE:OC) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,431 shares of the construction company’s stock after buying an additional 978 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Owens Corning were worth $3,693,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OC. Nordea Investment Management AB boosted its position in shares of Owens Corning by 74.4% during the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock valued at $210,040,000 after acquiring an additional 533,910 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Owens Corning by 7.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock valued at $156,756,000 after purchasing an additional 75,594 shares during the last quarter. Norges Bank purchased a new position in Owens Corning in the 4th quarter worth approximately $118,251,000. AustralianSuper Pty Ltd increased its holdings in shares of Owens Corning by 2.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 590,977 shares of the construction company’s stock worth $102,665,000 after buying an additional 12,707 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Owens Corning by 6.7% during the 4th quarter. Franklin Resources Inc. now owns 515,262 shares of the construction company’s stock valued at $76,377,000 after buying an additional 32,436 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the topic of a number of research analyst reports. Barclays reduced their target price 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. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a report on Monday, June 17th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Evercore ISI decreased their price target on shares of Owens Corning from $188.00 to $175.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital upped their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, June 21st. 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, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $184.23.

Insider Activity at Owens Corning

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

Owens Corning Stock Performance

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

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 the consensus estimate of $4.37 by $0.27. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Owens Corning had a return on equity of 26.33% and a net margin of 10.66%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $4.22 EPS. As a group, equities analysts anticipate that Owens Corning will post 15.38 EPS for the current 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.