Owens Corning (NYSE:OC) Shares Sold by American International Group Inc.

American International Group Inc. lowered its position in shares of Owens Corning (NYSE:OCFree Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 120,047 shares of the construction company’s stock after selling 6,519 shares during the quarter. American International Group Inc. owned about 0.14% of Owens Corning worth $17,795,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OC. LSV Asset Management raised its holdings in shares of Owens Corning by 0.7% during the fourth quarter. LSV Asset Management now owns 2,272,150 shares of the construction company’s stock worth $336,801,000 after purchasing an additional 15,714 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Owens Corning by 156.1% in the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after buying an additional 906,782 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Owens Corning by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,481,937 shares of the construction company’s stock worth $219,668,000 after buying an additional 35,530 shares during the last quarter. Allianz Asset Management GmbH grew its holdings 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 worth $156,756,000 after acquiring an additional 75,594 shares during the period. Finally, Northern Trust Corp raised its position in Owens Corning by 4.9% during the third quarter. Northern Trust Corp now owns 1,014,106 shares of the construction company’s stock valued at $138,334,000 after acquiring an additional 47,212 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Loop Capital upped their price objective on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Argus raised their price target on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays upped their price objective on shares of Owens Corning from $160.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd. UBS Group lifted their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.21.

View Our Latest Report on Owens Corning

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 3,423 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the sale, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Owens Corning news, insider Marcio A. Sandri sold 9,697 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the sale, the insider now owns 62,895 shares of the company’s stock, valued at $11,195,310. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 3,423 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total value of $604,056.81. Following the completion of the transaction, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,360 shares of company stock valued at $2,373,815. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

OC traded down $4.61 on Friday, hitting $176.58. 400,411 shares of the company’s stock were exchanged, compared to its average volume of 569,359. Owens Corning has a fifty-two week low of $109.95 and a fifty-two week high of $184.00. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 5.39 and a beta of 1.46. The firm has a 50-day moving average price of $173.28 and a 200-day moving average price of $158.93. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OCGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $2.77 earnings per share. Owens Corning’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Owens Corning will post 15.48 earnings per share for the current year.

Owens Corning Company Profile

(Free Report)

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.

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

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