Mercer Global Advisors Inc. ADV Sells 359 Shares of Owens Corning (NYSE:OC)

Mercer Global Advisors Inc. ADV reduced its holdings in Owens Corning (NYSE:OC – Get Rating) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,487 shares of the construction company’s stock after selling 359 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Owens Corning were worth $553,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OC. Tobam bought a new stake in Owens Corning in the fourth quarter worth $31,000. Belpointe Asset Management LLC purchased a new stake in Owens Corning in the fourth quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Owens Corning in the fourth quarter worth about $41,000. Fifth Third Bancorp boosted its stake in shares of Owens Corning by 42.3% in the fourth quarter. Fifth Third Bancorp now owns 552 shares of the construction company’s stock worth $47,000 after acquiring an additional 164 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in shares of Owens Corning by 611.0% in the first quarter. Zions Bancorporation N.A. now owns 583 shares of the construction company’s stock worth $53,000 after acquiring an additional 501 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Owens Corning Trading Down 1.3 %

Shares of NYSE OC opened at $110.13 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.86. The business’s 50 day moving average price is $99.09 and its 200-day moving average price is $94.87. Owens Corning has a fifty-two week low of $72.97 and a fifty-two week high of $112.17. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.84 and a beta of 1.41.

Owens Corning (NYSE:OC – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The construction company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.55. Owens Corning had a return on equity of 26.06% and a net margin of 13.54%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted $2.84 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Owens Corning will post 10.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Loop Capital upped their price objective on Owens Corning from $102.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Citigroup increased their price target on Owens Corning from $90.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. Bank of America increased their price target on Owens Corning from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Benchmark increased their price target on Owens Corning from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Finally, UBS Group increased their price target on Owens Corning from $121.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.23.

Insiders Place Their Bets

In other Owens Corning news, insider Marcio A. Sandri sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $100.00, for a total transaction of $800,000.00. Following the transaction, the insider now directly owns 62,962 shares in the company, valued at approximately $6,296,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, EVP Paula Russell sold 2,000 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $95.00, for a total transaction of $190,000.00. Following the sale, the executive vice president now owns 24,342 shares of the company’s stock, valued at approximately $2,312,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marcio A. Sandri sold 8,000 shares of the stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $100.00, for a total value of $800,000.00. Following the sale, the insider now directly owns 62,962 shares in the company, valued at approximately $6,296,200. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $1,290,000 in the last ninety days. 0.89% of the stock is owned by company insiders.

Owens Corning Company Profile

(Get Rating)

Owens Corning engages in the development, manufacture, and marketing of insulation, roofing, and fiberglass composites. It operates through the following segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber, and includes vertically integrated downstream activities.